Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 110.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,722 shares of the company’s stock after acquiring an additional 4,061 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Fomento Economico Mexicano were worth $858,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FMX. AQR Capital Management LLC increased its stake in Fomento Economico Mexicano by 19.0% during 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 during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fomento Economico Mexicano by 2,006.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. New York State Common Retirement Fund bought a new position in shares of Fomento Economico Mexicano in the second quarter valued at approximately $429,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Economico Mexicano by 61.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock valued at $119,000 after acquiring an additional 438 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Fomento Economico Mexicano during the second quarter valued at approximately $504,000. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Down 2.6%

Fomento Economico Mexicano stock opened at $127.79 on Wednesday. The company has a 50 day moving average price of $121.94 and a 200 day moving average price of $112.76. 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 debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The firm has a market capitalization of $44.16 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 0.76 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The firm had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. Research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were given a dividend of $0.6658 per share. This represents a $2.66 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 53.47%.

Analyst Ratings Changes

A number of equities analysts have issued reports on FMX shares. Barclays increased their price target on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, 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. 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. According to data from MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Moderate Buy” and an average price target of $118.67.

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.