ABC Arbitrage SA Takes $1.37 Million Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Key Points

• ABC Arbitrage SA has acquired 14,008 shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX), valued at approximately $1,367,000, during the first quarter of the current fiscal year.
• Fomento Economico Mexicano reported an earnings per share (EPS) of $0.42, missing analysts' estimates significantly, leading to a 2.60% net margin.
• The company recently announced a dividend of $1.3625 per share, which is a substantial increase from its previous dividend of $0.73, indicating a significant commitment to returning value to shareholders.

ABC Arbitrage SA purchased a new position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,008 shares of the company's stock, valued at approximately $1,367,000.

Several other large investors have also added to or reduced their stakes in FMX. Banque Transatlantique SA purchased a new stake in shares of Fomento Economico Mexicano in the 4th quarter worth about $44,000. Alpine Bank Wealth Management purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $46,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Fomento Economico Mexicano in the fourth quarter worth about $72,000. Finally, Parallel Advisors LLC boosted its position in Fomento Economico Mexicano by 56.2% during the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company's stock valued at $81,000 after acquiring an additional 299 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays decreased their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. UBS Group upped their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano has a consensus rating of "Hold" and a consensus price target of $107.20.

Fomento Economico Mexicano Stock Up 0.1%

Fomento Economico Mexicano stock traded up $0.07 during mid-day trading on Thursday, hitting $88.25. The company had a trading volume of 1,725,825 shares, compared to its average volume of 862,638. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $114.33. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock's 50 day moving average price is $100.33 and its two-hundred day moving average price is $98.21. The company has a market capitalization of $31.57 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 4.16 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations 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, sell-side analysts anticipate 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 company also recently disclosed a -- dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a yield of 200.0%. The ex-dividend date was Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio (DPR) is presently 74.83%.

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.