SG Americas Securities LLC Raises Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

SG Americas Securities LLC boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 95.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,788 shares of the company’s stock after acquiring an additional 6,750 shares during the period. SG Americas Securities LLC’s holdings in Fomento Economico Mexicano were worth $1,531,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FMX. AQR Capital Management LLC raised its holdings in shares of 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 purchasing an additional 709,957 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Fomento Economico Mexicano by 12,960.1% during the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock worth $59,176,000 after purchasing an additional 595,388 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Fomento Economico Mexicano in the third quarter valued at $50,343,000. Invesco Ltd. increased its holdings in Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after buying an additional 423,073 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Fomento Economico Mexicano in the fourth quarter valued at $41,408,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FMX. JPMorgan Chase & Co. upped their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays boosted their target price on 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. Finally, UBS Group increased their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.67.

Fomento Economico Mexicano Price Performance

Shares of FMX opened at $129.24 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $131.81. The stock has a market cap of $44.66 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. The firm has a fifty day moving average price of $122.43 and a 200 day moving average price of $113.12.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. As a group, sell-side analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS 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 given a $0.6658 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.1%. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.

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.