Vontobel Holding Ltd. Makes New Investment in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Vontobel Holding Ltd. invested approximately $5.1 million in Fomento Economico Mexicano S.A.B. de C.V., acquiring 49,702 shares during the second quarter of the year.
• Fomento Economico Mexicano announced a quarterly dividend increase to $1.9982 per share, resulting in an annualized yield of 8.5%.
• Recent earnings showed that the company reported $0.42 earnings per share, significantly missing analysts' expectations of $0.91.

Vontobel Holding Ltd. purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,702 shares of the company's stock, valued at approximately $5,118,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Fomento Economico Mexicano by 27,873.3% in the first quarter. GAMMA Investing LLC now owns 20,980 shares of the company's stock valued at $2,047,000 after acquiring an additional 20,905 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Fomento Economico Mexicano by 1.3% in the first quarter. Fifth Third Bancorp now owns 26,474 shares of the company's stock valued at $2,583,000 after acquiring an additional 340 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Fomento Economico Mexicano by 5,217.9% in the first quarter. Exchange Traded Concepts LLC now owns 31,482 shares of the company's stock valued at $3,072,000 after acquiring an additional 30,890 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at approximately $207,000. Finally, Blue Trust Inc. raised its stake in shares of Fomento Economico Mexicano by 24.4% in the first quarter. Blue Trust Inc. now owns 5,979 shares of the company's stock valued at $583,000 after acquiring an additional 1,172 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $93.74 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. The firm has a market cap of $33.54 billion, a P/E ratio of 31.89, a P/E/G ratio of 5.57 and a beta of 0.72. The firm has a 50 day simple moving average of $90.48 and a 200 day simple moving average of $97.94. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $108.74.

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 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 company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 16th will be issued a $1.9982 dividend. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Thursday, October 16th. Fomento Economico Mexicano's dividend payout ratio is currently 74.83%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FMX. Barclays cut 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 note on Thursday, July 31st. Morgan Stanley reiterated an "equal weight" rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Citigroup upgraded shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their target price for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. Zacks Research lowered shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $100.97.

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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