Marathon Capital Management Makes New Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Marathon Capital Management bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 34,495 shares of the company’s stock, valued at approximately $3,713,000. Fomento Económico Mexicano comprises 0.9% of Marathon Capital Management’s holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hawk Ridge Capital Management LP bought a new position in shares of Fomento Económico Mexicano during the 4th quarter valued at about $79,852,000. Baillie Gifford & Co. raised its position in Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after buying an additional 344,815 shares during the last quarter. Vontobel Asset Management Inc. raised its position in Fomento Económico Mexicano by 1,253.3% in the 4th quarter. Vontobel Asset Management Inc. now owns 362,616 shares of the company’s stock valued at $45,839,000 after buying an additional 335,822 shares during the last quarter. Sustainable Growth Advisers LP raised its position in Fomento Económico Mexicano by 122.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock valued at $56,785,000 after buying an additional 240,256 shares during the last quarter. Finally, Employees Retirement System of Texas raised its position in Fomento Económico Mexicano by 64.1% in the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock valued at $50,713,000 after buying an additional 184,000 shares during the last quarter.

Analysts Set New Price Targets

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

Fomento Económico Mexicano Stock Up 0.7 %

FMX stock opened at $100.87 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $36.09 billion, a PE ratio of 27.34, a PEG ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $98.97 and a 1-year high of $143.43. The business’s 50 day simple moving average is $107.02 and its 200 day simple moving average is $114.09.

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

Fomento Económico Mexicano Increases Dividend

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

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.