Fox Run Management L.L.C. Makes New Investment in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Fox Run Management L.L.C. acquired 11,950 shares of Fomento Economico Mexicano S.A.B. de C.V. for approximately $1,166,000 in the first quarter.
• The company reported $0.42 earnings per share for the last quarter, missing estimates significantly, with a revenue of $11.27 billion.
• Fomento Economico Mexicano recently announced a dividend of $1.3625 per share, which is an increase from the previous dividend of $0.73, representing a 200.0% yield.

Fox Run Management L.L.C. bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,950 shares of the company's stock, valued at approximately $1,166,000.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in Fomento Economico Mexicano in the first quarter valued at about $207,000. Crossmark Global Holdings Inc. lifted its position in Fomento Economico Mexicano by 29.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock valued at $2,572,000 after purchasing an additional 5,977 shares during the period. Cerity Partners LLC boosted its stake in shares of Fomento Economico Mexicano by 25.4% in the 1st quarter. Cerity Partners LLC now owns 13,778 shares of the company's stock valued at $1,344,000 after purchasing an additional 2,795 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Fomento Economico Mexicano by 17.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock worth $2,405,000 after buying an additional 4,096 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Fomento Economico Mexicano by 27,873.3% during the first quarter. GAMMA Investing LLC now owns 20,980 shares of the company's stock worth $2,047,000 after buying an additional 20,905 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley restated an "equal weight" rating and issued a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday. Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Barclays reduced their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Finally, UBS Group lifted their price objective on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of "Hold" and a consensus target price of $105.16.

Fomento Economico Mexicano Trading Up 2.1%

FMX traded up $1.7740 during mid-day trading on Wednesday, hitting $86.3140. The stock had a trading volume of 905,451 shares, compared to its average volume of 1,160,319. The stock's fifty day simple moving average is $96.68 and its 200-day simple moving average is $98.22. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 3.99 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $111.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. As a group, research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a -- dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a dividend yield of 200.0%. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio is currently 74.83%.

Fomento Economico 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.