Wealth Alliance LLC Purchases New Holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Wealth Alliance LLC bought a new position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,259 shares of the company's stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FMX. FMR LLC boosted its position in shares of Fomento Economico Mexicano by 540.3% during the 4th quarter. FMR LLC now owns 3,147,544 shares of the company's stock valued at $269,084,000 after purchasing an additional 2,655,962 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Fomento Economico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after purchasing an additional 717,666 shares in the last quarter. Talaria Asset Management Pty Ltd bought a new stake in shares of Fomento Economico Mexicano during the 4th quarter valued at about $47,110,000. Asset Value Investors Ltd bought a new stake in shares of Fomento Economico Mexicano during the 4th quarter valued at about $42,793,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Fomento Economico Mexicano by 25.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company's stock valued at $184,540,000 after purchasing an additional 437,699 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on FMX. UBS Group upped their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Barclays upped their target price on Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Itau BBA Securities upgraded Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Finally, Wall Street Zen lowered Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Fomento Economico Mexicano currently has an average rating of "Hold" and a consensus target price of $107.45.

Fomento Economico Mexicano Stock Down 0.4%

NYSE:FMX traded down $0.40 on Friday, hitting $97.44. The stock had a trading volume of 137,306 shares, compared to its average volume of 574,579. The business's fifty day moving average is $103.56 and its 200 day moving average is $97.71. The company has a market cap of $34.86 billion, a PE ratio of 21.80, a P/E/G ratio of 3.07 and a beta of 0.65. The company has a quick ratio of 1.31, a current ratio of 1.64 and a debt-to-equity ratio of 0.34. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $114.33.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $194.75 billion. Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. On average, equities research analysts expect 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 will be paid on Monday, July 28th. Stockholders of record on Thursday, July 17th will be paid a $1.3625 dividend. The ex-dividend date of this dividend is Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a dividend yield of 2%. Fomento Economico Mexicano's dividend payout ratio is 49.22%.

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.