Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Purchased by INCA Investments LLC

Key Points

• INCA Investments LLC increased its stake in Fomento Economico Mexicano by 106.1% in Q2, acquiring an additional 141,419 shares and making it their 3rd largest holding.
• Fomento Economico Mexicano recently announced a quarterly dividend of $1.9982 per share, reflecting an increase from the previous quarterly dividend and an annualized yield of 8.6%.
• The company reported earnings of $0.42 EPS for the last quarter, which missed analysts' expectations by ($0.49), along with revenues of $11.27 billion.

INCA Investments LLC grew its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 106.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,769 shares of the company's stock after acquiring an additional 141,419 shares during the period. Fomento Economico Mexicano accounts for approximately 11.0% of INCA Investments LLC's investment portfolio, making the stock its 3rd biggest holding. INCA Investments LLC owned approximately 0.08% of Fomento Economico Mexicano worth $28,296,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FMX. Farther Finance Advisors LLC grew its stake in shares of Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after buying an additional 108 shares during the period. Stephens Inc. AR lifted its position in Fomento Economico Mexicano by 2.1% in the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company's stock valued at $579,000 after acquiring an additional 121 shares in the last quarter. Park Avenue Securities LLC lifted its position in Fomento Economico Mexicano by 4.6% in the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company's stock valued at $293,000 after acquiring an additional 125 shares in the last quarter. UMB Bank n.a. lifted its position in Fomento Economico Mexicano by 25.3% in the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company's stock valued at $85,000 after acquiring an additional 166 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in Fomento Economico Mexicano by 6.2% in the 2nd quarter. Yousif Capital Management LLC now owns 3,437 shares of the company's stock valued at $354,000 after acquiring an additional 200 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $92.83 on Thursday. 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's 50 day moving average price is $90.72 and its two-hundred day moving average price is $97.81. 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 has a market cap of $33.21 billion, a P/E ratio of 31.58, a P/E/G ratio of 5.40 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results 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 the consensus estimate of $216.71 billion. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Thursday, October 16th will be paid a dividend of $1.9982 per share. This represents a $7.99 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Thursday, October 16th. This is an increase from Fomento Economico Mexicano's previous quarterly dividend of $1.36. Fomento Economico Mexicano's dividend payout ratio (DPR) is 74.83%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FMX. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Barclays dropped their price target on shares of 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. UBS Group raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and dropped their price target for the company from $115.00 to $111.00 in a research report on Friday, September 19th. Citigroup raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and raised their price target for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Fomento Economico Mexicano 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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