2,818 Shares in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Acquired by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC acquired 2,818 shares of Fomento Economico Mexicano, valued at approximately $275,000, during the first quarter.
• Fomento Economico Mexicano's stock has been rated with a consensus of "Hold," and its target price is set at $107.20 by analysts.
• The firm recently announced a dividend increase, distributing a $1.3625 dividend, which represents a 200.0% yield.

HB Wealth Management LLC acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,818 shares of the company's stock, valued at approximately $275,000.

Several other large investors have also made changes to their positions in the company. Banque Transatlantique SA acquired a new position in Fomento Economico Mexicano in the 4th quarter worth about $44,000. Alpine Bank Wealth Management bought a new stake in shares of Fomento Economico Mexicano during the 1st quarter valued at about $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Fomento Economico Mexicano during the fourth quarter worth $72,000. Parallel Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 56.2% during the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company's stock worth $81,000 after purchasing an additional 299 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Fomento Economico Mexicano in the first quarter worth approximately $207,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX traded down $0.12 during midday trading on Wednesday, hitting $89.06. The company's stock had a trading volume of 334,356 shares, compared to its average volume of 601,388. The stock has a fifty day moving average price of $101.09 and a 200 day moving average price of $98.24. The firm has a market capitalization of $31.86 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 4.16 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $81.07 and a one year high of $114.33. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. On average, research 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 company also recently declared a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a dividend of $1.3625 per share. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a dividend yield of 200.0%. Fomento Economico Mexicano's dividend payout ratio (DPR) is presently 74.83%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FMX. UBS Group boosted 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, 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of "Hold" and an average price target of $107.20.

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.