Gabelli Funds LLC Has $19.97 Million Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Gabelli Funds LLC decreased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 202,500 shares of the company’s stock after selling 6,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.06% of Fomento Economico Mexicano worth $19,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Citigroup Inc. raised its holdings 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 buying an additional 1,296,194 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in Fomento Economico Mexicano by 24.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock worth $112,928,000 after acquiring an additional 222,064 shares during the last quarter. Altrinsic Global Advisors LLC grew its holdings in Fomento Economico Mexicano by 52.4% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock worth $97,298,000 after acquiring an additional 324,781 shares during the last quarter. AQR Capital Management LLC increased its position in Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Fomento Economico Mexicano by 13.9% in the 2nd quarter. Bank of America Corp DE now owns 625,746 shares of the company’s stock valued at $64,439,000 after acquiring an additional 76,535 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FMX shares. Barclays upped their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of 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 investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano currently has a consensus rating of “Hold” and a consensus price target of $108.83.

Fomento Economico Mexicano Stock Performance

Shares of NYSE:FMX opened at $109.55 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. 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 stock has a market capitalization of $37.85 billion, a P/E ratio of 38.44, a P/E/G ratio of 4.25 and a beta of 0.42. The business has a 50-day moving average price of $107.34 and a two-hundred day moving average price of $99.30.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The business had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. Equities analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a $2.0531 dividend. The ex-dividend date of this dividend was Friday, January 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 dividend on an annualized basis and a yield of 7.5%. Fomento Economico Mexicano’s payout ratio is 80.00%.

Fomento Economico Mexicano Profile

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.