Hsbc Holdings PLC Purchases 1,513 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Hsbc Holdings PLC grew its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,408 shares of the company’s stock after purchasing an additional 1,513 shares during the quarter. Hsbc Holdings PLC’s holdings in Fomento Económico Mexicano were worth $1,659,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Wealth Alliance increased its stake in shares of Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after acquiring an additional 147 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Fomento Económico Mexicano by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 260,476 shares of the company’s stock valued at $28,035,000 after acquiring an additional 1,773 shares in the last quarter. Black Creek Investment Management Inc. increased its stake in shares of Fomento Económico Mexicano by 15.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after acquiring an additional 121,800 shares in the last quarter. Oldfield Partners LLP increased its stake in shares of Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after acquiring an additional 100 shares in the last quarter. Finally, Barings LLC increased its stake in shares of Fomento Económico Mexicano by 5.5% in the 2nd quarter. Barings LLC now owns 86,893 shares of the company’s stock valued at $9,354,000 after acquiring an additional 4,557 shares in the last quarter.

Fomento Económico Mexicano Price Performance

FMX opened at $99.39 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The company has a market capitalization of $35.56 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 5.75 and a beta of 0.94. The firm’s fifty day moving average price is $106.71 and its two-hundred day moving average price is $113.99. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $98.67 and a 1 year high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The company had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. As a group, analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 17th were issued a $1.0206 dividend. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, July 17th. Fomento Económico Mexicano’s payout ratio is 14.36%.

Analyst Ratings Changes

Several analysts recently issued reports on FMX shares. Barclays reduced their price target on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $133.40.

Fomento Económico Mexicano 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.