Quantbot Technologies LP Invests $2.70 Million in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Quantbot Technologies LP bought a new position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,345 shares of the company’s stock, valued at approximately $2,697,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. raised its stake in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth $40,000. Tower Research Capital LLC TRC raised 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 during the period. Mather Group LLC. acquired a new position in Fomento Economico Mexicano in the third quarter valued at $54,000. Finally, MAI Capital Management boosted its holdings in Fomento Economico Mexicano by 131.1% in the second quarter. MAI Capital Management now owns 788 shares of the company’s stock valued at $81,000 after acquiring an additional 447 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Down 2.5%

FMX stock opened at $109.50 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.08 and a 1 year high of $116.09. The stock has a 50-day simple moving average of $106.92 and a 200-day simple moving average of $98.87.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The company had revenue of $12.21 billion for the quarter, compared to analyst estimates of $11.98 billion. Sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were paid a $2.0531 dividend. This represents a $8.21 annualized dividend and a dividend yield of 7.5%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is currently 80.00%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays upped their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group increased their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.83.

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.