Vident Advisory LLC Boosts 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 holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 86.5% in the first quarter, according to the company in its most recent disclosure 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 period. Vident Advisory LLC's holdings in Fomento Economico Mexicano were worth $991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in Fomento Economico Mexicano by 2.1% during the first quarter. Stephens Inc. AR now owns 5,937 shares of the company's stock valued at $579,000 after purchasing an additional 121 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Fomento Economico Mexicano during the 1st quarter worth $29,000. Parallel Advisors LLC boosted its position in Fomento Economico Mexicano by 56.2% during the first quarter. Parallel Advisors LLC now owns 831 shares of the company's stock valued at $81,000 after purchasing an additional 299 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Fomento Economico Mexicano by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 785 shares of the company's stock valued at $79,000 after purchasing an additional 321 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Fomento Economico Mexicano by 1.3% in the 1st quarter. Fifth Third Bancorp now owns 26,474 shares of the company's stock worth $2,583,000 after purchasing an additional 340 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Price Performance

NYSE:FMX traded up $0.32 during trading hours on Tuesday, hitting $87.11. 325,939 shares of the stock were exchanged, compared to its average volume of 668,230. 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 firm's fifty day moving average price is $92.57 and its 200 day moving average price is $98.16. 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 company has a market cap of $31.17 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 (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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $216.71 billion. As a group, equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were paid a dividend of $1.3625 per share. This is an increase 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 (DPR) is presently 74.83%.

Analysts Set New Price Targets

A number of analysts have commented on FMX shares. UBS Group lifted their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Morgan Stanley reaffirmed an "equal weight" rating and set a $97.00 price target (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Zacks Research lowered Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research note on Friday. Citigroup upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $93.00 to $97.00 in a research note on Tuesday. Finally, Barclays reduced their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $103.80.

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.