Mitsubishi UFJ Trust & Banking Corp Has $3.06 Million Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 164.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,066 shares of the company’s stock after purchasing an additional 19,320 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fomento Economico Mexicano were worth $3,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Value Partners Investments Inc. lifted its stake in Fomento Economico Mexicano by 43.3% in the third quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock valued at $13,516,000 after acquiring an additional 41,400 shares during the last quarter. Strs Ohio raised its holdings in shares of Fomento Economico Mexicano by 8.5% in the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock valued at $31,493,000 after purchasing an additional 25,000 shares during the period. INCA Investments LLC lifted its stake in Fomento Economico Mexicano by 106.1% in the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock valued at $28,296,000 after purchasing an additional 141,419 shares during the last quarter. Barings LLC grew its holdings in Fomento Economico Mexicano by 31.7% during the second quarter. Barings LLC now owns 72,617 shares of the company’s stock worth $7,478,000 after purchasing an additional 17,488 shares during the period. Finally, ABS Direct Equity Fund LLC increased its position in Fomento Economico Mexicano by 37.6% during the third quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock worth $8,901,000 after buying an additional 24,650 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Down 1.6%

FMX stock opened at $104.44 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $82.50 and a fifty-two week high of $108.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. The stock has a market capitalization of $37.98 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 4.05 and a beta of 0.46. The business’s fifty day moving average price is $101.86 and its two-hundred day moving average price is $95.81.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly 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 business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $215.60 billion. On average, equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a dividend of $2.0531 per share. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date was Friday, January 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 91.94%.

Analysts Set New Price Targets

FMX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays cut their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. upped 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. Finally, 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. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.40.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.