Fomento Economico Mexicano S.A.B. de C.V. $FMX Stock: Robeco Institutional Asset Management B.V. Boosts Holdings

Robeco Institutional Asset Management B.V. raised its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 14.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,379,331 shares of the company’s stock after purchasing an additional 292,659 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Fomento Economico Mexicano were worth $282,093,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new stake in shares of Fomento Economico Mexicano in the third quarter valued at $1,702,000. Cordatus Wealth Management LLC purchased a new stake in shares of Fomento Economico Mexicano in the 3rd quarter valued at $259,000. Assenagon Asset Management S.A. raised its holdings in shares of Fomento Economico Mexicano by 367.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 88,097 shares of the company’s stock valued at $10,445,000 after buying an additional 69,245 shares during the period. Ninety One UK Ltd raised its holdings in shares of Fomento Economico Mexicano by 75.2% in the 3rd quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock valued at $100,162,000 after buying an additional 362,738 shares during the period. Finally, Ninety One North America Inc. lifted its stake in Fomento Economico Mexicano by 111.0% during the 3rd quarter. Ninety One North America Inc. now owns 226,502 shares of the company’s stock worth $26,854,000 after acquiring an additional 119,174 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $129.15 on Wednesday. The firm has a 50 day moving average of $119.88 and a two-hundred day moving average of $121.82. The stock has a market capitalization of $44.63 billion, a PE ratio of 25.83, a P/E/G ratio of 0.68 and a beta of 0.41. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $90.87 and a 52 week high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. The business had revenue of $13.20 billion for the quarter. On average, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Wednesday, October 14th will be issued a $1.7804 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 5.5%. This is a drop from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. The ex-dividend date is Wednesday, October 14th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 47.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FMX shares. Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their target price for the company from $125.00 to $150.00 in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised Fomento Economico Mexicano from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $126.00 to $151.00 in a research report on Friday, October 16th. Barclays boosted their price target 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. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Finally, Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.83.

Insider Transactions at Fomento Economico Mexicano

In related news, Director Michael David Kahn bought 2,100 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $118.13 per share, with a total value of $248,073.00. Following the purchase, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.68% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Monterrey, Mexico-based multinational company with operations focused on beverage bottling, retail and related consumer services. The company traces its origins to 1890, when it was established as a brewery in Monterrey, and has since developed into one of Latin America’s largest consumer-facing businesses.

FEMSA’s principal beverage business is Coca-Cola FEMSA, which produces, markets, sells and distributes Coca-Cola trademark beverages and other nonalcoholic drinks.