HB Wealth Management LLC Sells 560 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

HB Wealth Management LLC reduced its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 19.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,258 shares of the company’s stock after selling 560 shares during the period. HB Wealth Management LLC’s holdings in Fomento Economico Mexicano were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of Fomento Economico Mexicano by 1.9% during the 1st quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock worth $524,003,000 after acquiring an additional 100,898 shares during the last quarter. Nuveen LLC bought a new stake in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $330,437,000. Itau Unibanco Holding S.A. lifted its stake in shares of Fomento Economico Mexicano by 105.4% during the 1st quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after acquiring an additional 570,640 shares during the last quarter. Perpetual Ltd lifted its stake in shares of Fomento Economico Mexicano by 5.7% during the 1st quarter. Perpetual Ltd now owns 977,342 shares of the company’s stock worth $95,369,000 after acquiring an additional 52,673 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its stake in shares of Fomento Economico Mexicano by 12.7% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 919,722 shares of the company’s stock worth $89,754,000 after acquiring an additional 103,983 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Trading Down 0.8%

Shares of NYSE:FMX opened at $94.41 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74. The business’s fifty day simple moving average is $90.16 and its 200-day simple moving average is $97.98. The company has a market capitalization of $33.78 billion, a PE ratio of 32.11, a P/E/G ratio of 5.57 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $216.71 billion. As a group, equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Thursday, October 16th will be issued a $1.9982 dividend. The ex-dividend date is Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.5%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 74.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FMX shares. Barclays decreased their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Saturday, September 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their target price for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. lifted their target price on Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $100.97.

About Fomento Economico Mexicano

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.