US Bancorp DE boosted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Free Report) by 0.7% during the 2nd quarter, Holdings Channel reports. The firm owned 80,885 shares of the company’s stock after acquiring an additional 559 shares during the period. US Bancorp DE’s holdings in Fomento Económico Mexicano were worth $8,965,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Fomento Económico Mexicano by 5.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,575 shares of the company’s stock valued at $618,000 after buying an additional 275 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Fomento Económico Mexicano during the 2nd quarter valued at $3,743,000. State of New Jersey Common Pension Fund D lifted its position in shares of Fomento Económico Mexicano by 1.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 287,203 shares of the company’s stock valued at $31,834,000 after buying an additional 3,547 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Fomento Económico Mexicano during the 1st quarter valued at $209,000. Finally, Victory Capital Management Inc. lifted its position in shares of Fomento Económico Mexicano by 13.0% during the 1st quarter. Victory Capital Management Inc. now owns 397,375 shares of the company’s stock valued at $37,826,000 after buying an additional 45,698 shares during the last quarter.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. HSBC upped their price target on Fomento Económico Mexicano from $112.00 to $124.00 and gave the company a “hold” rating in a research report on Friday, August 25th. Citigroup increased their price objective on Fomento Económico Mexicano from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Barclays raised Fomento Económico Mexicano from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $115.00 to $130.00 in a report on Monday, October 30th. Finally, Itau BBA Securities cut Fomento Económico Mexicano from an “outperform” rating to a “market perform” rating and set a $127.00 price objective on the stock. in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.20.
Fomento Económico Mexicano Stock Up 0.7 %
Shares of NYSE FMX opened at $126.77 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.64 and a current ratio of 1.93. The stock’s 50-day simple moving average is $110.83 and its two-hundred day simple moving average is $108.96. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $74.90 and a twelve month high of $128.63.
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last announced its earnings results on Friday, October 27th. The company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.59. The business had revenue of $10.81 billion for the quarter, compared to analyst estimates of $11.22 billion. Fomento Económico Mexicano had a return on equity of 9.42% and a net margin of 9.01%. On average, analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.69 EPS for the current year.
Fomento Económico Mexicano Cuts Dividend
The firm also recently announced a semi-annual dividend, which was paid on Tuesday, November 7th. Shareholders of record on Monday, November 6th were paid a $1.0001 dividend. The ex-dividend date was Friday, November 3rd. This represents a yield of 1.3%. Fomento Económico Mexicano’s dividend payout ratio is currently 17.31%.
Fomento Económico Mexicano Company Profile
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.
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