Wealth Enhancement Advisory Services LLC Purchases New Shares in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Wealth Enhancement Advisory Services LLC bought a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,490 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds have also made changes to their positions in the business. Aaron Wealth Advisors LLC acquired a new stake in shares of Fomento Economico Mexicano during the second quarter worth about $215,000. Strs Ohio purchased a new position in shares of Fomento Economico Mexicano in the 1st quarter valued at approximately $28,718,000. Acadian Asset Management LLC grew its stake in shares of Fomento Economico Mexicano by 325.7% in the 1st quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after purchasing an additional 293,524 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after purchasing an additional 969 shares during the last quarter. Finally, Amundi grew its stake in shares of Fomento Economico Mexicano by 1.1% in the 1st quarter. Amundi now owns 561,473 shares of the company’s stock valued at $56,967,000 after purchasing an additional 6,142 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on FMX shares. Zacks Research cut shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price target for the stock from $115.00 to $111.00 in a report on Friday, September 19th. JPMorgan Chase & Co. increased their price target on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $100.97.

Fomento Economico Mexicano Trading Down 1.1%

NYSE:FMX opened at $95.19 on Friday. The company has a market capitalization of $34.06 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $108.74. The stock has a fifty day simple moving average of $90.38 and a 200-day simple moving average of $97.96.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. On average, equities research analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be issued a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.4%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is currently 74.83%.

Fomento Economico Mexicano 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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.