Mackenzie Financial Corp Invests $6.15 Million in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Key Points

• Mackenzie Financial Corp has acquired 63,066 shares of Fomento Economico Mexicano S.A.B. de C.V. for approximately $6,154,000 as reported in their recent 13F filing.
• The company's quarterly earnings showed an EPS of $0.42, significantly missing analysts' consensus estimate of $0.91.
• Fomento Economico Mexicano has increased its dividend to $1.3625, representing a yield of 200% and a payout ratio of 74.83%.

Mackenzie Financial Corp acquired a new position 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 Securities and Exchange Commission. The institutional investor acquired 63,066 shares of the company's stock, valued at approximately $6,154,000.

Several other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $46,000. Banque Transatlantique SA purchased a new stake in shares of Fomento Economico Mexicano during the fourth quarter valued at $44,000. Parallel Advisors LLC grew its holdings 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 worth $81,000 after purchasing an additional 299 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Fomento Economico Mexicano in the 4th quarter worth about $72,000. Finally, Cable Hill Partners LLC purchased a new position in Fomento Economico Mexicano in the 1st quarter worth about $217,000. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Down 1.7%

Fomento Economico Mexicano stock traded down $1.56 during mid-day trading on Friday, reaching $88.90. 655,740 shares of the company were exchanged, 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 firm has a market cap of $31.81 billion, a P/E ratio of 30.24, a PEG ratio of 4.20 and a beta of 0.66. The business has a fifty day moving average of $101.82 and a 200 day moving average of $98.26. 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.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS 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 during the quarter, compared to the consensus estimate of $216.71 billion. Research analysts anticipate 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 disclosed a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a $1.3625 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's payout ratio is presently 74.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FMX. UBS Group raised their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Barclays reduced their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a report on Thursday. Itau BBA Securities upgraded Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Fomento Economico Mexicano currently 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.