Diversify Advisory Services LLC Buys 14,069 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Diversify Advisory Services LLC bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,069 shares of the company's stock, valued at approximately $1,702,000.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Fomento Economico Mexicano in the 1st quarter worth about $28,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at about $33,000. GAMMA Investing LLC raised its holdings in shares of Fomento Economico Mexicano by 79.2% during the 3rd quarter. GAMMA Investing LLC now owns 396 shares of the company's stock valued at $47,000 after buying an additional 175 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at about $102,000. Finally, IFP Advisors Inc bought a new stake in Fomento Economico Mexicano in the 2nd quarter worth approximately $118,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael David Kahn bought 2,100 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the purchase, the director owned 2,100 shares in the company, valued at approximately $248,073. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on FMX shares. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 4th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upgraded shares of Fomento Economico Mexicano from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $126.00 to $151.00 in a report on Friday, October 16th. Bank of America raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and upped their price objective for the company from $125.00 to $150.00 in a research note on Tuesday, August 4th. Finally, Barclays increased their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.50.

Fomento Economico Mexicano Trading Down 0.2%

Shares of NYSE FMX opened at $128.75 on Friday. The firm's 50 day moving average price is $120.56 and its 200-day moving average price is $122.06. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $90.87 and a 52-week high of $141.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market cap of $44.49 billion, a PE ratio of 35.35, a P/E/G ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. The company had revenue of $13.20 billion during the quarter. On average, equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 6.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be given a $1.7804 dividend. This is a drop from Fomento Economico Mexicano's previous quarterly dividend of $1.8270. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $7.12 dividend on an annualized basis and a yield of 5.5%. Fomento Economico Mexicano's payout ratio is presently 46.20%.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Monterrey, Mexico-based multinational company with operations focused on beverage bottling, retail and related consumer services. The company traces its origins to 1890, when it was established as a brewery in Monterrey, and has since developed into one of Latin America's largest consumer-facing businesses.

FEMSA's principal beverage business is Coca-Cola FEMSA, which produces, markets, sells and distributes Coca-Cola trademark beverages and other nonalcoholic drinks.

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