Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 8.3% in the first quarter, Holdings Channel reports. The institutional investor owned 75,440 shares of the company’s stock after selling 6,792 shares during the period. Gamco Investors INC. ET AL’s holdings in Fomento Economico Mexicano were worth $8,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FMX. Compound Planning Inc. increased its holdings in shares of Fomento Economico Mexicano by 40.6% in the 1st quarter. Compound Planning Inc. now owns 6,063 shares of the company’s stock valued at $673,000 after acquiring an additional 1,752 shares during the last quarter. Sei Investments Co. lifted its stake in Fomento Economico Mexicano by 13.1% during the first quarter. Sei Investments Co. now owns 236,168 shares of the company’s stock worth $26,229,000 after purchasing an additional 27,439 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Fomento Economico Mexicano by 19.8% in the first quarter. Cetera Investment Advisers now owns 2,935 shares of the company’s stock valued at $326,000 after purchasing an additional 486 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in Fomento Economico Mexicano by 2.9% in the first quarter. NewEdge Wealth LLC now owns 6,894 shares of the company’s stock valued at $766,000 after purchasing an additional 196 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in Fomento Economico Mexicano in the first quarter valued at approximately $262,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Trading Down 0.1%

FMX opened at $126.97 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $134.52. The business’s 50 day moving average is $125.81 and its two-hundred day moving average is $116.20. The firm has a market cap of $43.87 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The business had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. On average, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be given a $1.827 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, July 15th. This represents a $7.31 annualized dividend and a yield of 5.8%. Fomento Economico Mexicano’s payout ratio is currently 54.36%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. UBS Group boosted their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Barclays upped their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.50.

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.