Vident Advisory LLC Grows Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Vident Advisory LLC increased its stake in Fomento Economico Mexicano by 86.5% in the first quarter, owning a total of 10,151 shares worth approximately $991,000.
• Fomento Economico Mexicano recently increased its quarterly dividend to $1.3625 per share, resulting in an annualized dividend of $5.45 and a yield of 6.5%.
• Analysts' price targets for Fomento Economico Mexicano vary, with UBS Group raising its target to $115.00, while Morgan Stanley lowered it to $97.00, indicating a mixed outlook on the stock.

Vident Advisory LLC lifted its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 86.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,151 shares of the company's stock after acquiring an additional 4,708 shares during the quarter. Vident Advisory LLC's holdings in Fomento Economico Mexicano were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FMX. Raymond James Financial Inc. purchased a new stake in Fomento Economico Mexicano in the fourth quarter valued at $813,000. Stifel Financial Corp increased its holdings in shares of Fomento Economico Mexicano by 11.1% during the 4th quarter. Stifel Financial Corp now owns 13,864 shares of the company's stock worth $1,185,000 after buying an additional 1,385 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Fomento Economico Mexicano by 53.8% during the 4th quarter. Northern Trust Corp now owns 441,588 shares of the company's stock valued at $37,751,000 after buying an additional 154,433 shares during the last quarter. BNP Paribas Financial Markets increased its position in Fomento Economico Mexicano by 24.0% in the fourth quarter. BNP Paribas Financial Markets now owns 404,738 shares of the company's stock worth $34,601,000 after buying an additional 78,436 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Fomento Economico Mexicano in the 4th quarter valued at $2,897,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Trading Up 2.0%

Shares of FMX traded up $1.69 on Monday, hitting $87.05. 571,833 shares of the stock traded hands, compared to its average volume of 664,823. The firm has a market capitalization of $31.15 billion, a P/E ratio of 29.60, a P/E/G ratio of 5.00 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $108.74. 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 stock's 50 day moving average is $92.89 and its two-hundred day moving average is $98.18.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted 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). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. As a group, sell-side 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 company also recently declared a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a $1.3625 dividend. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a $5.45 annualized dividend and a yield of 6.3%. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an "equal weight" rating and set a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Barclays lowered their price target 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. Finally, UBS Group increased their price objective on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company 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, the stock currently has an average rating of "Hold" and a consensus price target of $105.16.

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.