LPL Financial LLC Has $1.72 Million Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• LPL Financial LLC increased its stake in Fomento Economico Mexicano by 22.3% in the 1st quarter, bringing its total holdings to approximately $1.72 million.
• The company reported earnings of $0.42 EPS for the last quarter, significantly missing analysts' estimates of $0.91 EPS, with a net margin of 2.60% and a revenue of $11.27 billion.
• Fomento Economico Mexicano recently boosted its dividend to $1.3625 from $0.73, which represents a yield of 200.0% based on its payout ratio of 74.83%.

LPL Financial LLC boosted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 22.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,599 shares of the company's stock after buying an additional 3,208 shares during the quarter. LPL Financial LLC's holdings in Fomento Economico Mexicano were worth $1,717,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at about $44,000. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano in the first quarter valued at about $46,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at about $72,000. Parallel Advisors LLC grew its position in shares of Fomento Economico Mexicano by 56.2% in 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 last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Fomento Economico Mexicano in the first quarter valued at about $207,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $87.0090 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $109.14. The firm has a 50 day moving average of $96.31 and a 200-day moving average of $98.23. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $31.13 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 5.05 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. As a group, sell-side analysts anticipate 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 disclosed a -- dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were given a $1.3625 dividend. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a yield of 200.0%. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FMX shares. Barclays decreased their target price 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, July 31st. Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. UBS Group lifted their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $105.16.

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.

Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.