CIBC Private Wealth Group LLC Has $50.47 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

CIBC Private Wealth Group LLC raised its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 30.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 511,704 shares of the company’s stock after buying an additional 118,375 shares during the period. CIBC Private Wealth Group LLC’s holdings in Fomento Economico Mexicano were worth $50,469,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Fomento Economico Mexicano by 19.0% during the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares during the last quarter. Savant Capital LLC bought a new position in Fomento Economico Mexicano in the 2nd quarter valued at approximately $293,000. PNC Financial Services Group Inc. boosted its position in Fomento Economico Mexicano by 8.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,218 shares of the company’s stock worth $743,000 after buying an additional 582 shares during the period. SG Americas Securities LLC boosted its position in Fomento Economico Mexicano by 92.6% during the 2nd quarter. SG Americas Securities LLC now owns 5,203 shares of the company’s stock worth $536,000 after buying an additional 2,501 shares during the period. Finally, MAI Capital Management grew its holdings in Fomento Economico Mexicano by 131.1% during the 2nd quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after acquiring an additional 447 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.83.

Fomento Economico Mexicano Trading Down 1.5%

NYSE:FMX opened at $105.45 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $116.09. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $36.44 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 0.78 and a beta of 0.42. The firm has a fifty day simple moving average of $108.34 and a two-hundred day simple moving average of $100.43.

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

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a dividend of $2.0531 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.8%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 79.65%.

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.