Patriot Financial Group Insurance Agency LLC Raises Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Patriot Financial Group Insurance Agency LLC increased its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 110.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,722 shares of the company’s stock after purchasing an additional 4,061 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Fomento Economico Mexicano were worth $858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Fomento Economico Mexicano in the 4th quarter valued at about $50,000. Brown Brothers Harriman & Co. grew its stake in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after acquiring an additional 499 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX opened at $127.79 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $131.81. The company has a 50 day moving average of $121.94 and a two-hundred day moving average of $112.76. The company has a market cap of $44.16 billion, a P/E ratio of 28.59, a P/E/G ratio of 0.76 and a beta of 0.42. 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 (NYSE:FMX) last announced its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.The business had revenue of $11.61 billion for the quarter. On average, 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 business also recently announced a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd were paid a $0.6658 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FMX shares. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. Finally, UBS Group raised their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano presently has an average rating of “Moderate Buy” and a consensus target price of $118.67.

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.