Sequoia Financial Advisors LLC Acquires 343 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Sequoia Financial Advisors LLC increased its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 5.7% during the 2nd quarter, Holdings Channel reports. The firm owned 6,309 shares of the company’s stock after buying an additional 343 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fomento Economico Mexicano were worth $650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $29,000. Farther Finance Advisors LLC lifted its holdings in Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares during the period. Alpine Bank Wealth Management purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $46,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $51,000. Finally, Brooklyn Investment Group lifted its holdings in Fomento Economico Mexicano by 112.4% in the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock worth $70,000 after buying an additional 382 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FMX has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Zacks Research lowered shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. 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 report on Tuesday, September 9th. Finally, UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. 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 company’s stock. According to data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and an average price target of $100.97.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $96.27 on Monday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The firm has a market cap of $34.44 billion, a P/E ratio of 32.74, a PEG ratio of 5.63 and a beta of 0.72. The company has a 50 day moving average of $91.05 and a 200 day moving average of $97.72. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data 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 return on equity of 5.32% and a net margin of 2.60%.The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $216.71 billion. As a group, 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 company 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 represents a $7.99 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 76.19%.

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.