Klein Pavlis & Peasley Financial Inc. Acquires 9,868 Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in Fomento Economico Mexicano S.A.B. de C.V. by 35.0%, owning a total of 38,044 shares after purchasing 9,868 shares in the first quarter.
• Fomento Economico Mexicano reported earnings per share of $0.42 for the last quarter, significantly missing analysts' expectations of $0.91.
• The company announced a dividend increase, with a payment of $1.3625 per share, marking a boost from its previous dividend of $0.73 and leading to a yield of 200.0%.

Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 35.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,044 shares of the company's stock after purchasing an additional 9,868 shares during the quarter. Fomento Economico Mexicano comprises approximately 2.7% of Klein Pavlis & Peasley Financial Inc.'s portfolio, making the stock its 11th biggest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in Fomento Economico Mexicano were worth $3,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FMX. Natixis Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 17.3% in the first quarter. Natixis Advisors LLC now owns 60,214 shares of the company's stock valued at $5,876,000 after acquiring an additional 8,866 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at approximately $51,000. Ramirez Asset Management Inc. boosted its position in shares of Fomento Economico Mexicano by 126.0% in the first quarter. Ramirez Asset Management Inc. now owns 25,767 shares of the company's stock valued at $2,514,000 after acquiring an additional 14,365 shares during the period. Mackenzie Financial Corp bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at approximately $6,154,000. Finally, LPL Financial LLC boosted its position in shares of Fomento Economico Mexicano by 22.3% in the first quarter. LPL Financial LLC now owns 17,599 shares of the company's stock valued at $1,717,000 after acquiring an additional 3,208 shares during the period. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Trading Down 1.2%

NYSE:FMX traded down $1.10 during midday trading on Wednesday, reaching $88.07. 562,848 shares of the stock traded hands, compared to its average volume of 602,067. The stock has a market capitalization of $31.51 billion, a P/E ratio of 29.96, a PEG ratio of 4.16 and a beta of 0.66. The company has a fifty day moving average of $101.09 and a 200 day moving average of $98.24. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $114.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34.

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 (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. On average, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a -- dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a $1.3625 dividend. This represents a dividend yield of 200.0%. The ex-dividend date was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio (DPR) is 74.83%.

Wall Street Analyst Weigh In

FMX has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Barclays dropped their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.