Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Creative Planning

Creative Planning cut its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,229 shares of the company’s stock after selling 2,123 shares during the period. Creative Planning’s holdings in Fomento Economico Mexicano were worth $1,774,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano in the 1st quarter valued at about $29,000. Farther Finance Advisors LLC increased its holdings in Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Fomento Economico Mexicano in the first quarter valued at about $51,000. Brooklyn Investment Group raised its stake in Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after buying an additional 382 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Fomento Economico Mexicano by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 785 shares of the company’s stock worth $79,000 after buying an additional 321 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reiterated 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price target for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their price target for the company from $115.00 to $111.00 in a report on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Fomento Economico Mexicano has an average rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $94.19 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.10. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $108.74. The firm has a fifty day moving average of $95.15 and a 200-day moving average of $96.36. The company has a market cap of $33.70 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 5.54 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $215.60 billion. As a group, equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Thursday, October 16th were paid a dividend of $1.9982 per share. This represents a $7.99 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend was Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 89.92%.

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.