BNP Paribas Arbitrage SA boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,920 shares of the company’s stock after buying an additional 1,984 shares during the period. BNP Paribas Arbitrage SA’s holdings in Fomento Economico Mexicano were worth $2,476,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FMX. Legal & General Group Plc raised its holdings in Fomento Economico Mexicano by 282.2% during the 1st quarter. Legal & General Group Plc now owns 10,564 shares of the company’s stock valued at $936,000 after buying an additional 7,800 shares during the period. Vanguard Group Inc. raised its holdings in Fomento Economico Mexicano by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 156,624 shares of the company’s stock valued at $13,864,000 after buying an additional 18,433 shares during the period. BlackRock Inc. purchased a new stake in Fomento Economico Mexicano during the 1st quarter valued at $118,653,000. Bank of Montreal Can raised its holdings in Fomento Economico Mexicano by 84.7% during the 2nd quarter. Bank of Montreal Can now owns 73,635 shares of the company’s stock valued at $7,242,000 after buying an additional 33,761 shares during the period. Finally, Aperio Group LLC raised its holdings in Fomento Economico Mexicano by 14.5% during the 2nd quarter. Aperio Group LLC now owns 34,243 shares of the company’s stock valued at $3,367,000 after buying an additional 4,331 shares during the period. Institutional investors own 26.06% of the company’s stock.
Several equities analysts have commented on FMX shares. Zacks Investment Research raised Fomento Economico Mexicano from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Wednesday, September 20th. J P Morgan Chase & Co raised Fomento Economico Mexicano from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $98.00 to $117.00 in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fomento Economico Mexicano has a consensus rating of “Buy” and an average price target of $114.40.
Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) traded down $0.61 during trading on Thursday, reaching $91.48. The company’s stock had a trading volume of 1,160,321 shares, compared to its average volume of 418,084. The company has a market cap of $33,631.75, a P/E ratio of 13.22, a PEG ratio of 1.86 and a beta of 0.54. The company has a quick ratio of 1.55, a current ratio of 1.88 and a debt-to-equity ratio of 0.36. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $73.45 and a 12 month high of $103.82.
The firm also recently disclosed a semiannual dividend, which was paid on Monday, November 13th. Shareholders of record on Monday, November 6th were given a $0.6759 dividend. This represents a yield of 1.52%. The ex-dividend date was Friday, November 3rd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 18.99%.
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Fomento Economico Mexicano Company Profile
Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.
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