Sequoia Financial Advisors LLC Raises Position in 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 second quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in 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 acquiring an additional 108 shares during the last quarter. Stephens Inc. AR increased its position in shares of Fomento Economico Mexicano by 2.1% during the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock valued at $579,000 after purchasing an additional 121 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Fomento Economico Mexicano by 4.6% during the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock valued at $293,000 after purchasing an additional 125 shares during the last quarter. UMB Bank n.a. increased its position in shares of Fomento Economico Mexicano by 25.3% during the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of Fomento Economico Mexicano by 6.2% during the 2nd quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock valued at $354,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Up 0.9%

Shares of NYSE:FMX opened at $96.27 on Monday. The stock’s 50-day moving average price is $91.05 and its 200-day moving average price is $97.72. 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 stock has a market capitalization of $34.44 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 5.63 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.06 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.49). The company 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%. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 16th will be paid a $1.9982 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a dividend yield of 8.3%. Fomento Economico Mexicano’s payout ratio is 76.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FMX. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price objective 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 company a “neutral” rating in a research report on Monday, September 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Finally, Barclays reduced their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Four 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 MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus target price of $100.97.

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.