Fomento Economico Mexicano S.A.B. de C.V. $FMX Stock: Ninety One UK Ltd Increases Holdings

Ninety One UK Ltd increased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 75.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 844,817 shares of the company’s stock after acquiring an additional 362,738 shares during the quarter. Ninety One UK Ltd’s holdings in Fomento Economico Mexicano were worth $100,162,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Fomento Economico Mexicano by 3.2% in the 1st quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after buying an additional 193,432 shares in the last quarter. Amundi increased its stake in Fomento Economico Mexicano by 9.8% in the 1st quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after buying an additional 54,786 shares during the last quarter. USS Investment Management Ltd raised its holdings in Fomento Economico Mexicano by 44.9% during the first quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock worth $51,386,000 after acquiring an additional 143,430 shares in the last quarter. Cook & Bynum Capital Management LLC bought a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $29,857,616. Finally, Ninety One North America Inc. grew its stake in shares of Fomento Economico Mexicano by 111.0% in the third quarter. Ninety One North America Inc. now owns 226,502 shares of the company’s stock valued at $26,854,000 after buying an additional 119,174 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insider Buying and Selling

In other Fomento Economico Mexicano news, Director Michael David Kahn bought 2,100 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares of the company’s stock, valued at approximately $248,073. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.68% of the stock is currently owned by corporate insiders.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX traded up $1.30 during midday trading on Thursday, hitting $121.98. The stock had a trading volume of 196,277 shares, compared to its average volume of 458,921. The company’s 50-day moving average price is $119.46 and its 200-day moving average price is $121.37. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $90.87 and a fifty-two week high of $141.47. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $42.15 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 0.65 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. As a group, equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.35 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be given a dividend of $1.7804 per share. This is a decrease from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. This represents a $7.12 annualized dividend and a yield of 5.8%. The ex-dividend date is Wednesday, October 14th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 48.60%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FMX. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. UBS Group cut their price target on shares of Fomento Economico Mexicano from $139.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, October 1st. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the company from $125.00 to $150.00 in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $135.67.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.