Amundi Has $63.12 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Amundi lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 5.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 594,396 shares of the company’s stock after buying an additional 32,923 shares during the quarter. Amundi’s holdings in Fomento Economico Mexicano were worth $63,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada raised its holdings in Fomento Economico Mexicano by 1.9% in the 1st quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after acquiring an additional 100,898 shares during the period. Nuveen LLC bought a new stake in shares of Fomento Economico Mexicano during the first quarter worth approximately $330,437,000. Citigroup Inc. grew its position in shares of Fomento Economico Mexicano by 309.6% in the second quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after purchasing an additional 1,296,194 shares during the last quarter. Aberdeen Group plc increased its stake in shares of Fomento Economico Mexicano by 10.8% during the second quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock worth $119,414,000 after purchasing an additional 112,813 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Fomento Economico Mexicano by 105.4% during the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after purchasing an additional 570,640 shares during the period. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

FMX has been the subject of several recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. UBS Group raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Trading Up 0.4%

Shares of Fomento Economico Mexicano stock opened at $101.05 on Tuesday. The company has a market capitalization of $36.15 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 5.00 and a beta of 0.47. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74. The firm’s 50-day moving average price is $95.47 and its two-hundred day moving average price is $96.02.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $215.60 billion. On average, analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Thursday, October 16th were given a dividend of $1.9982 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a yield of 7.9%. The ex-dividend date was Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 90.32%.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.