2,376 Shares in Fomento Economico Mexicano S.A.B. de C.V. $FMX Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,376 shares of the company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in Fomento Economico Mexicano during the first quarter worth about $207,000. Crossmark Global Holdings Inc. grew its holdings in Fomento Economico Mexicano by 29.3% during the first quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company’s stock worth $2,572,000 after purchasing an additional 5,977 shares during the period. Royal Bank of Canada grew its holdings in Fomento Economico Mexicano by 1.9% during the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock worth $524,003,000 after purchasing an additional 100,898 shares during the period. INCA Investments LLC grew its holdings in Fomento Economico Mexicano by 106.1% during the second quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock worth $28,296,000 after purchasing an additional 141,419 shares during the period. Finally, Cerity Partners LLC lifted its position in Fomento Economico Mexicano by 25.4% during the first quarter. Cerity Partners LLC now owns 13,778 shares of the company’s stock worth $1,344,000 after acquiring an additional 2,795 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Up 1.0%

NYSE FMX opened at $95.58 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $108.74. The company has a 50 day moving average of $92.80 and a 200-day moving average of $97.68. The company has a market cap of $34.20 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 5.54 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The business had revenue of $11.71 billion during the quarter, compared to analyst estimates of $215.60 billion. On average, equities research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were given a $1.9982 dividend. The ex-dividend date was Thursday, October 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.4%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 90.32%.

Wall Street Analysts Forecast Growth

FMX has been the subject of several research reports. Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, Morgan Stanley restated an “equal weight” rating and set a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.97.

Fomento Economico Mexicano 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.