Itau Unibanco Holding S.A. Has $133.99 Million Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Itau Unibanco Holding S.A. trimmed its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,289,286 shares of the company’s stock after selling 75,881 shares during the quarter. Fomento Económico Mexicano makes up about 5.7% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 4th largest holding. Itau Unibanco Holding S.A. owned about 0.36% of Fomento Económico Mexicano worth $133,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hawk Ridge Capital Management LP bought a new stake in Fomento Económico Mexicano in the 4th quarter valued at about $79,852,000. Baillie Gifford & Co. grew its holdings 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 worth $544,979,000 after buying an additional 344,815 shares in the last quarter. Vontobel Asset Management Inc. increased 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 acquiring an additional 335,822 shares during the period. Sustainable Growth Advisers LP raised its stake in Fomento Económico Mexicano by 122.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock valued at $56,785,000 after acquiring an additional 240,256 shares in the last quarter. Finally, Zimmer Partners LP boosted its position in Fomento Económico Mexicano by 377.8% during the 1st quarter. Zimmer Partners LP now owns 215,000 shares of the company’s stock worth $28,008,000 after acquiring an additional 170,000 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FMX. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Barclays lowered their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.50.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $99.75 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $99.02 and a twelve month high of $143.43. 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 50-day moving average of $108.01 and a two-hundred day moving average of $114.53. The company has a market capitalization of $35.69 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 5.75 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The business had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. As a group, analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.44 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th were paid a dividend of $1.0206 per share. The ex-dividend date of this dividend was Wednesday, July 17th. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 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.