Exchange Traded Concepts LLC Purchases 48,518 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Exchange Traded Concepts LLC grew its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 154.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the company’s stock after acquiring an additional 48,518 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Fomento Economico Mexicano were worth $8,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Fomento Economico Mexicano in the 2nd quarter worth approximately $263,000. Aaron Wealth Advisors LLC bought a new stake in Fomento Economico Mexicano in the 2nd quarter worth approximately $215,000. Strs Ohio bought a new stake in Fomento Economico Mexicano in the 1st quarter worth approximately $28,718,000. Acadian Asset Management LLC increased its stake in Fomento Economico Mexicano by 325.7% in the 1st quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock worth $37,421,000 after acquiring an additional 293,524 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after acquiring an additional 969 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX opened at $92.70 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $90.42 and a 200 day moving average of $98.05. The stock has a market cap of $33.17 billion, a P/E ratio of 31.53, a PEG ratio of 5.45 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last issued its 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). The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. As a group, sell-side 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 company also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were paid a dividend of $1.3625 per share. This represents a $5.45 annualized dividend and a yield of 5.9%. The ex-dividend date was Thursday, July 17th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.73. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 74.83%.

Analyst Ratings Changes

A number of analysts have issued reports on FMX shares. JPMorgan Chase & Co. lifted their price objective on Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a research note on Monday. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Barclays dropped their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Zacks Research cut Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a report on Friday, September 5th. Finally, UBS Group lifted their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.63.

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.