Headlands Technologies LLC Buys 12,742 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Headlands Technologies LLC grew its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 243.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,981 shares of the company’s stock after purchasing an additional 12,742 shares during the quarter. Headlands Technologies LLC’s holdings in Fomento Económico Mexicano were worth $1,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FMX. Choreo LLC bought a new stake in Fomento Económico Mexicano during the second quarter worth $2,135,000. National Bank of Canada FI raised its holdings in shares of Fomento Económico Mexicano by 88.1% in the 2nd quarter. National Bank of Canada FI now owns 216,766 shares of the company’s stock valued at $23,495,000 after purchasing an additional 101,500 shares during the period. Fielder Capital Group LLC bought a new stake in shares of Fomento Económico Mexicano in the 2nd quarter valued at about $242,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Fomento Económico Mexicano by 24.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company’s stock valued at $245,000 after purchasing an additional 449 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in Fomento Económico Mexicano by 17.3% during the second quarter. Whittier Trust Co. now owns 6,842 shares of the company’s stock worth $737,000 after purchasing an additional 1,011 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on FMX. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Barclays dropped their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.50.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $99.77 on Wednesday. The firm has a market cap of $35.70 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 3.68 and a beta of 0.94. The business’s 50 day moving average is $109.38 and its 200-day moving average is $115.61. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $99.24 and a 1-year high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. Equities research analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were issued a $1.0206 dividend. The ex-dividend date was Wednesday, July 17th. This represents a yield of 1.5%. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s payout ratio is currently 14.63%.

About Fomento Económico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.