Eurizon Capital SGR S.p.A. Buys New Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Eurizon Capital SGR S.p.A. bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,619 shares of the company’s stock, valued at approximately $669,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after purchasing an additional 499 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Fomento Economico Mexicano by 162.3% during the fourth quarter. Farther Finance Advisors LLC now owns 884 shares of the company’s stock worth $89,000 after acquiring an additional 547 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Fomento Economico Mexicano by 49.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,170 shares of the company’s stock worth $119,000 after acquiring an additional 385 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Up 1.6%

Shares of NYSE FMX opened at $122.09 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $125.71. The firm’s fifty day moving average is $117.12 and its 200 day moving average is $108.93. The company has a market cap of $42.19 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 0.70 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The company had revenue of $11.61 billion for the quarter. On average, equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were paid a $0.6658 dividend. This represents a $2.66 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is presently 53.47%.

Insider Activity at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total value of $579,138.12. Following the transaction, the director directly owned 1,233,080 shares of the company’s stock, valued at $13,650,195.60. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 261,575 shares of company stock valued at $2,795,188 over the last quarter. 5.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FMX has been the topic of several research reports. The Goldman Sachs Group lifted their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. UBS Group lifted their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Finally, Barclays lifted their price target on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $117.17.

Fomento Economico Mexicano Company 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.