Prime Capital Investment Advisors LLC Buys 3,060 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Prime Capital Investment Advisors LLC increased its stake in Fomento Economico Mexicano by 84.9%, owning a total of 6,665 shares worth $686,000 after acquiring an additional 3,060 shares in Q2.
• Fomento Economico Mexicano's quarterly dividend will increase to $1.9982, representing an annualized dividend of $7.99 and a yield of 8.4%, payable on October 27th to stockholders of record.
• Recent analyst ratings for the stock show a mix of opinions, with four analysts rating it as Buy and revisions in price targets ranging from $96.00 to $111.00.

Prime Capital Investment Advisors LLC boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 84.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,665 shares of the company's stock after acquiring an additional 3,060 shares during the period. Prime Capital Investment Advisors LLC's holdings in Fomento Economico Mexicano were worth $686,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Fomento Economico Mexicano in the 1st quarter valued at $330,437,000. Itau Unibanco Holding S.A. increased its stake in shares of Fomento Economico Mexicano by 105.4% in the 1st quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company's stock valued at $106,139,000 after purchasing an additional 570,640 shares during the last quarter. Strs Ohio bought a new position in shares of Fomento Economico Mexicano in the 1st quarter valued at $28,718,000. Acadian Asset Management LLC increased its stake in shares of Fomento Economico Mexicano by 325.7% in the 1st quarter. Acadian Asset Management LLC now owns 383,644 shares of the company's stock valued at $37,421,000 after purchasing an additional 293,524 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Fomento Economico Mexicano by 27.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 833,238 shares of the company's stock valued at $81,307,000 after purchasing an additional 178,460 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMX. Morgan Stanley reiterated an "equal weight" rating and issued a $97.00 price target (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised their price objective on Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a report on Monday, September 15th. UBS Group raised Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and cut their price objective for the company from $115.00 to $111.00 in a report on Friday, September 19th. Citigroup raised Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and raised their price objective for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Wednesday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $100.97.

Fomento Economico Mexicano Stock Down 1.1%

Shares of FMX opened at $95.19 on Friday. The company has a market capitalization of $34.06 billion, a PE ratio of 32.38, a PEG ratio of 5.63 and a beta of 0.72. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $108.74. The stock's 50-day moving average price is $90.38 and its two-hundred day moving average price is $97.96. 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 announced its 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). The company had revenue of $11.27 billion for 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%. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Thursday, October 16th will be paid a $1.9982 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.4%. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $1.36. Fomento Economico Mexicano's dividend payout ratio (DPR) is presently 74.83%.

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.

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