Assetmark Inc. Acquires 5,596 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Assetmark Inc. increased its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 98.1% in the second quarter, HoldingsChannel reports. The firm owned 11,300 shares of the company’s stock after buying an additional 5,596 shares during the period. Assetmark Inc.’s holdings in Fomento Economico Mexicano were worth $1,164,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Fomento Economico Mexicano during the first quarter worth about $29,000. Farther Finance Advisors LLC grew its holdings in Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 108 shares during the period. Banque Cantonale Vaudoise bought a new position in Fomento Economico Mexicano during the first quarter worth about $51,000. Brooklyn Investment Group grew its holdings in Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock worth $70,000 after purchasing an additional 382 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Fomento Economico Mexicano by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 785 shares of the company’s stock worth $79,000 after purchasing an additional 321 shares during the period. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $93.94 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $33.61 billion, a P/E ratio of 37.88, a P/E/G ratio of 5.54 and a beta of 0.70. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74. The firm has a 50-day moving average price of $93.27 and a two-hundred day moving average price of $97.37.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The business had revenue of $11.71 billion during the quarter, compared to the consensus estimate of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. Analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were given a dividend of $1.9982 per share. The ex-dividend date was Thursday, October 16th. This represents a $7.99 annualized dividend and a dividend yield of 8.5%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 89.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Barclays lowered their price target on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Fomento Economico Mexicano currently has a consensus rating of “Hold” and a consensus target price of $101.63.

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.