Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Shares Bought by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. increased its holdings in Fomento Economico Mexicano by 126.0% during the first quarter, bringing their total to 25,767 shares valued at approximately $2.5 million.
• Fomento Economico Mexicano's stock experienced a 6.8% decline recently, with analysts currently rating the stock with a consensus of "Hold" and an average price target of $107.45.
• The company recently boosted its dividend from $0.73 to $1.3625 per share, resulting in a 2% dividend yield.

Ramirez Asset Management Inc. raised its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 126.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,767 shares of the company's stock after buying an additional 14,365 shares during the quarter. Ramirez Asset Management Inc.'s holdings in Fomento Economico Mexicano were worth $2,514,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new stake in shares of Fomento Economico Mexicano during the first quarter worth about $6,154,000. LPL Financial LLC increased its stake in shares of Fomento Economico Mexicano by 22.3% during the first quarter. LPL Financial LLC now owns 17,599 shares of the company's stock worth $1,717,000 after buying an additional 3,208 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Fomento Economico Mexicano during the first quarter worth approximately $275,000. Assetmark Inc. increased its stake in shares of Fomento Economico Mexicano by 41.3% during the first quarter. Assetmark Inc. now owns 5,704 shares of the company's stock worth $557,000 after buying an additional 1,666 shares during the period. Finally, ANTIPODES PARTNERS Ltd increased its stake in shares of Fomento Economico Mexicano by 12.7% during the first quarter. ANTIPODES PARTNERS Ltd now owns 919,722 shares of the company's stock worth $89,754,000 after buying an additional 103,983 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX traded down $0.86 during mid-day trading on Friday, hitting $89.61. 328,113 shares of the company were exchanged, compared to its average volume of 600,675. The company has a quick ratio of 1.31, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $102.17 and a 200-day simple moving average of $98.01. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $114.33. The firm has a market cap of $32.06 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share 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 company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. On average, sell-side analysts forecast 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 business also recently declared a -- dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were issued a dividend of $1.3625 per share. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio is 240.48%.

Analyst Ratings Changes

A number of analysts recently weighed in on FMX shares. Barclays cut their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Thursday. UBS Group increased their price target on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Itau BBA Securities upgraded shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fomento Economico Mexicano presently has a consensus rating of "Hold" and an average target price of $107.20.

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.