Prime Capital Investment Advisors LLC Has $686,000 Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Prime Capital Investment Advisors LLC grew its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 84.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,665 shares of the company’s stock after purchasing an additional 3,060 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Fomento Economico Mexicano were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its position in Fomento Economico Mexicano by 6.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 23,204 shares of the company’s stock valued at $2,390,000 after buying an additional 1,431 shares in the last quarter. Matthews International Capital Management LLC bought a new stake in Fomento Economico Mexicano in the 2nd quarter valued at about $3,468,000. Robeco Institutional Asset Management B.V. increased its position in Fomento Economico Mexicano by 1.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 848,283 shares of the company’s stock valued at $87,356,000 after buying an additional 15,045 shares in the last quarter. Deltec Asset Management LLC increased its position in Fomento Economico Mexicano by 42.9% in the 2nd quarter. Deltec Asset Management LLC now owns 5,000 shares of the company’s stock valued at $515,000 after buying an additional 1,500 shares in the last quarter. Finally, One Wealth Advisors LLC increased its position in Fomento Economico Mexicano by 7.0% in the 2nd quarter. One Wealth Advisors LLC now owns 6,824 shares of the company’s stock valued at $703,000 after buying an additional 447 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FMX has been the subject of a number of research analyst reports. Zacks Research lowered Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. JPMorgan Chase & Co. increased 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, September 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fomento Economico Mexicano currently has a consensus rating of “Hold” and an average price target of $100.97.

Fomento Economico Mexicano Trading Down 1.1%

Shares of FMX stock opened at $95.19 on Friday. The business’s fifty day moving average is $90.38 and its 200 day moving average is $97.96. 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. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The company has a market capitalization of $34.06 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) 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 company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. On average, equities research analysts anticipate 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 business also recently disclosed 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 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.