Marks Group Wealth Management Inc Sells 229 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Marks Group Wealth Management Inc cut its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 3,420 shares of the company’s stock after selling 229 shares during the period. Marks Group Wealth Management Inc’s holdings in Fomento Economico Mexicano were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FMX. Farther Finance Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Stephens Inc. AR grew its holdings in Fomento Economico Mexicano by 2.1% during the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after acquiring an additional 121 shares during the last quarter. Park Avenue Securities LLC increased its position in Fomento Economico Mexicano by 4.6% in the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock valued at $293,000 after acquiring an additional 125 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 25.3% in the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after acquiring an additional 166 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Fomento Economico Mexicano in the first quarter worth about $29,000. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FMX. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their price target for the company from $115.00 to $111.00 in a report on Friday, September 19th. Morgan Stanley reissued an “equal weight” rating and issued a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price target for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Barclays lowered their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Four 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.97.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $94.94 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $33.97 billion, a P/E ratio of 32.29, a PEG ratio of 5.60 and a beta of 0.72. The business has a 50-day moving average of $90.11 and a 200-day moving average of $98.01. 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.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly 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). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. On average, equities 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 announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be issued a $1.9982 dividend. This represents a $7.99 annualized dividend and a yield of 8.4%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date is Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 74.83%.

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.