Quadrature Capital Ltd Makes New $1.54 Million Investment in Fomento Economico Mexicano SAB (NYSE:FMX)

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Quadrature Capital Ltd bought a new position in Fomento Economico Mexicano SAB (NYSE:FMX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,854 shares of the company’s stock, valued at approximately $1,541,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FMX. Parallel Advisors LLC increased its holdings in shares of Fomento Economico Mexicano SAB by 18.0% in the second quarter. Parallel Advisors LLC now owns 1,209 shares of the company’s stock valued at $74,000 after buying an additional 184 shares in the last quarter. Northcape Capital Pty Ltd increased its holdings in shares of Fomento Economico Mexicano SAB by 0.9% in the first quarter. Northcape Capital Pty Ltd now owns 21,440 shares of the company’s stock valued at $1,297,000 after buying an additional 193 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Fomento Economico Mexicano SAB by 5.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,742 shares of the company’s stock valued at $227,000 after buying an additional 204 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Fomento Economico Mexicano SAB by 23.0% in the second quarter. Cornerstone Advisors Inc. now owns 1,500 shares of the company’s stock valued at $93,000 after buying an additional 280 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Fomento Economico Mexicano SAB in the first quarter valued at $36,000. Hedge funds and other institutional investors own 18.44% of the company’s stock.

NYSE:FMX traded down $0.09 during trading hours on Friday, hitting $56.91. 920,219 shares of the stock traded hands, compared to its average volume of 484,161. The firm has a 50 day moving average price of $59.34 and a 200 day moving average price of $65.67. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 0.69. Fomento Economico Mexicano SAB has a fifty-two week low of $55.40 and a fifty-two week high of $98.05. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 9.29 and a beta of 0.75.

Fomento Economico Mexicano SAB (NYSE:FMX) last announced its earnings results on Friday, July 24th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.92). Fomento Economico Mexicano SAB had a net margin of 2.55% and a return on equity of 4.65%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $5.04 billion. Research analysts predict that Fomento Economico Mexicano SAB will post 1.29 EPS for the current year.

The company also recently announced a semi-annual dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.6896 per share. This represents a yield of 2.6%. The ex-dividend date was Tuesday, August 18th. Fomento Economico Mexicano SAB’s dividend payout ratio (DPR) is currently 44.63%.

Separately, Zacks Investment Research cut Fomento Economico Mexicano SAB from a “hold” rating to a “strong sell” rating and set a $66.00 price target on the stock. in a report on Tuesday, June 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Fomento Economico Mexicano SAB presently has an average rating of “Hold” and a consensus target price of $82.67.

Fomento Economico Mexicano SAB 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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

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Institutional Ownership by Quarter for Fomento Economico Mexicano SAB (NYSE:FMX)

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