Fomento Economico Mexicano S.A.B. de C.V. $FMX Stake Increased by Robeco Institutional Asset Management B.V.

by · The Cerbat Gem

Robeco Institutional Asset Management B.V. grew its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,379,331 shares of the company’s stock after acquiring an additional 292,659 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.69% of Fomento Economico Mexicano worth $282,093,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. HB Wealth Management LLC boosted its position in shares of Fomento Economico Mexicano by 5.8% during the 1st quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after acquiring an additional 136 shares during the last quarter. Matthews International Capital Management LLC increased its position in Fomento Economico Mexicano by 0.6% during the first quarter. Matthews International Capital Management LLC now owns 31,465 shares of the company’s stock worth $3,495,000 after purchasing an additional 174 shares during the last quarter. GAMMA Investing LLC increased its position in Fomento Economico Mexicano by 79.2% during the third quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock worth $47,000 after purchasing an additional 175 shares during the last quarter. Groupama Asset Managment increased its position in Fomento Economico Mexicano by 4.1% during the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock worth $512,000 after purchasing an additional 181 shares during the last quarter. Finally, NewEdge Wealth LLC raised its stake in Fomento Economico Mexicano by 2.9% during the first quarter. NewEdge Wealth LLC now owns 6,894 shares of the company’s stock worth $766,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the company from $125.00 to $150.00 in a report on Tuesday, August 4th. Barclays increased their price target 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. Benchmark upgraded shares of Fomento Economico Mexicano to an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised shares of Fomento Economico Mexicano from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $126.00 to $151.00 in a research report on Friday, October 16th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano has a consensus rating of “Moderate Buy” and an average target price of $139.83.

Check Out Our Latest Analysis on FMX

Insider Buying and Selling

In related news, Director Michael David Kahn bought 2,100 shares of the stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at $248,073. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.68% of the stock is owned by insiders.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $129.15 on Wednesday. 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. The business’s fifty day simple moving average is $119.88 and its 200-day simple moving average is $121.82. The firm has a market cap of $44.63 billion, a PE ratio of 25.83, a price-to-earnings-growth 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 (NYSE:FMX – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. Equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.32 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

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

Fomento Economico Mexicano Profile

(Free Report)

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.

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