Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 61.3% in the 1st quarter, HoldingsChannel reports. The firm owned 26,963 shares of the company’s stock after purchasing an additional 10,242 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fomento Economico Mexicano were worth $2,995,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its position in Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after buying an additional 969 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Fomento Economico Mexicano by 2,006.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Fomento Economico Mexicano in the 2nd quarter worth approximately $429,000. EverSource Wealth Advisors LLC lifted its stake in shares of Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock worth $119,000 after acquiring an additional 438 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Fomento Economico Mexicano in the second quarter valued at approximately $504,000. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $129.46 on Wednesday. The stock’s fifty day simple moving average is $123.38 and its 200-day simple moving average is $113.71. The company has a market capitalization of $44.73 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 0.70 and a beta of 0.41. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. 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.

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 return on equity of 7.33% and a net margin of 3.40%.The firm had revenue of $11.61 billion for the quarter. On average, sell-side analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $1.827 per share. This represents a $7.31 annualized dividend and a yield of 5.6%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.

Analyst Ratings Changes

FMX has been the subject of a number of research reports. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. UBS Group lifted their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Barclays lifted their price objective 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 research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.67.

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.