Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 95.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,487 shares of the company’s stock after selling 874,377 shares during the quarter. Perpetual Ltd’s holdings in Fomento Economico Mexicano were worth $4,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FMX. Farther Finance Advisors LLC lifted its stake in shares of Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Park Avenue Securities LLC lifted its position in Fomento Economico Mexicano by 4.6% during the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock valued at $293,000 after buying an additional 125 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the period. UMB Bank n.a. grew its stake in Fomento Economico Mexicano by 25.3% during the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after buying an additional 166 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of Fomento Economico Mexicano by 6.2% in the second quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock worth $354,000 after acquiring an additional 200 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $100.19 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $108.74. The business has a 50 day moving average price of $96.69 and a two-hundred day moving average price of $95.82. The firm has a market cap of $35.85 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 4.98 and a beta of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last released its 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). The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. Sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were given a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend was Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s payout ratio is presently 90.32%.

Analyst Ratings Changes

A number of analysts recently weighed in on FMX shares. Barclays decreased their price target on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their target price for the company from $115.00 to $111.00 in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price target for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.63.

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.