JPMorgan Chase & Co. Decreases Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

JPMorgan Chase & Co. lessened its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 38.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,436,130 shares of the company’s stock after selling 907,541 shares during the quarter. JPMorgan Chase & Co. owned 0.40% of Fomento Economico Mexicano worth $141,646,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Value Partners Investments Inc. lifted its stake in shares of Fomento Economico Mexicano by 43.3% during the third quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock worth $13,516,000 after purchasing an additional 41,400 shares in the last quarter. Strs Ohio raised its holdings in shares of Fomento Economico Mexicano by 8.5% during the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock valued at $31,493,000 after buying an additional 25,000 shares during the period. LBP AM SA lifted its position in Fomento Economico Mexicano by 22.1% during the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after acquiring an additional 93,997 shares in the last quarter. Barings LLC boosted its holdings in Fomento Economico Mexicano by 31.7% in the 2nd quarter. Barings LLC now owns 72,617 shares of the company’s stock worth $7,478,000 after acquiring an additional 17,488 shares during the period. Finally, ABS Direct Equity Fund LLC grew its position in Fomento Economico Mexicano by 37.6% in the third quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock valued at $8,901,000 after acquiring an additional 24,650 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FMX shares. 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. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group lifted their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $108.50.

Fomento Economico Mexicano Stock Up 1.3%

Shares of FMX stock opened at $113.63 on Friday. The firm has a fifty day moving average of $105.48 and a two-hundred day moving average of $97.53. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $116.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were given a $2.0531 dividend. This represents a $8.21 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s payout ratio is 91.94%.

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.