Callan Family Office LLC Grows Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Callan Family Office LLC significantly increased its stake in Fomento Economico Mexicano by 227.3%, owning 14,348 shares valued at approximately $1.48 million after acquiring nearly 10,000 additional shares.
• The company announced a quarterly dividend of $1.9982 to be paid on October 27, reflecting an annualized increase to $7.99 and a dividend yield of 8.5%.
• Fomento Economico Mexicano recently reported a quarterly earnings per share (EPS) of $0.42, missing the consensus estimate of $0.91, while analyst ratings for the stock are mixed with a consensus rating of "Hold."

Callan Family Office LLC lifted its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 227.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,348 shares of the company's stock after buying an additional 9,964 shares during the period. Callan Family Office LLC's holdings in Fomento Economico Mexicano were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FMX. GAMMA Investing LLC boosted its stake in shares of Fomento Economico Mexicano by 27,873.3% in the 1st 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. Fifth Third Bancorp lifted its position in Fomento Economico Mexicano by 1.3% during the first quarter. Fifth Third Bancorp now owns 26,474 shares of the company's stock valued at $2,583,000 after purchasing an additional 340 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Fomento Economico Mexicano by 5,217.9% during the first quarter. Exchange Traded Concepts LLC now owns 31,482 shares of the company's stock valued at $3,072,000 after purchasing an additional 30,890 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Fomento Economico Mexicano during the first quarter valued at $207,000. Finally, Blue Trust Inc. lifted its position in Fomento Economico Mexicano by 24.4% during the first quarter. Blue Trust Inc. now owns 5,979 shares of the company's stock valued at $583,000 after purchasing an additional 1,172 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock opened at $93.74 on Friday. The stock's 50-day simple moving average is $90.48 and its 200-day simple moving average is $97.94. 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 company has a market capitalization of $33.54 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 5.49 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 (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). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 8.5%. This is a positive change 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 presently 76.19%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Citigroup upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their target price for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Zacks Research downgraded Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their target price on Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. UBS Group upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lowered their target price for the company from $115.00 to $111.00 in a research report on Friday, September 19th. Finally, Barclays lowered their target price 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. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $100.97.

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.

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