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

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 stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,818 shares of the company's stock, valued at approximately $275,000.

A number of other institutional investors have also made changes to their positions in FMX. Banque Transatlantique SA acquired a new position in shares of Fomento Economico Mexicano during the fourth quarter worth approximately $44,000. Alpine Bank Wealth Management acquired a new position in shares of Fomento Economico Mexicano during the first quarter worth approximately $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Fomento Economico Mexicano during the fourth quarter valued at approximately $72,000. Parallel Advisors LLC increased its position in shares of 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 during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Fomento Economico Mexicano during the first quarter valued at approximately $207,000. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock traded down $1.56 on Friday, reaching $88.90. The company's stock had a trading volume of 655,740 shares, compared to its average volume of 856,518. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 4.20 and a beta of 0.66. The business's fifty day moving average price is $101.82 and its 200 day moving average price is $98.15. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $114.33.

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). The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. Equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share 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 paid a dividend of $1.3625 per share. This represents a dividend yield of 200.0%. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's payout ratio is currently 74.83%.

Analyst Upgrades and Downgrades

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

Fomento Economico Mexicano 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.