Aberdeen Group plc Purchases 112,813 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Aberdeen Group plc increased its stake in Fomento Economico Mexicano S.A.B. de C.V. by 10.8%, now holding approximately 1,155,766 shares valued at $119.4 million.
• The company recently announced a quarterly dividend of $1.9982, reflecting an increase from the previous quarter's dividend of $1.36, with a potential yield of 8.5%.
• Fomento Economico Mexicano reported Q2 earnings per share of $0.42, significantly missing analysts' expectations of $0.91, and had a net margin of only 2.60%.

Aberdeen Group plc grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 10.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,155,766 shares of the company's stock after acquiring an additional 112,813 shares during the quarter. Aberdeen Group plc owned about 0.32% of Fomento Economico Mexicano worth $119,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Fomento Economico Mexicano by 10.9% during the 2nd quarter. Blue Trust Inc. now owns 6,631 shares of the company's stock valued at $683,000 after acquiring an additional 652 shares during the last quarter. Callan Family Office LLC boosted its position in shares of Fomento Economico Mexicano by 227.3% during the 2nd quarter. Callan Family Office LLC now owns 14,348 shares of the company's stock valued at $1,478,000 after acquiring an additional 9,964 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at approximately $5,118,000. Prime Capital Investment Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 84.9% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 6,665 shares of the company's stock valued at $686,000 after acquiring an additional 3,060 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its position in shares of Fomento Economico Mexicano by 6.6% during the 2nd quarter. DAVENPORT & Co LLC now owns 23,204 shares of the company's stock valued at $2,390,000 after acquiring an additional 1,431 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Stock Performance

FMX stock opened at $93.74 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The business's fifty day simple moving average is $90.48 and its two-hundred day simple moving average is $97.94. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The firm has a market cap of $33.54 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 5.57 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. Analysts predict 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 will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be paid a $1.9982 dividend. The ex-dividend date is Thursday, October 16th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a yield of 8.5%. Fomento Economico Mexicano's payout ratio is 74.83%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Wednesday. Morgan Stanley restated an "equal weight" rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. UBS Group upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. JPMorgan Chase & Co. raised their price target on Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Finally, Zacks Research downgraded Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. Four investment 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, the stock presently 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.

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