Assetmark Inc. Grows Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Assetmark Inc. grew its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 41.3% in the first quarter, HoldingsChannel.com reports. The firm owned 5,704 shares of the company’s stock after buying an additional 1,666 shares during the quarter. Assetmark Inc.’s holdings in Fomento Economico Mexicano were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd boosted its stake in shares of Fomento Economico Mexicano by 12.7% during the first quarter. ANTIPODES PARTNERS Ltd now owns 919,722 shares of the company’s stock valued at $89,754,000 after purchasing an additional 103,983 shares during the period. One Wealth Advisors LLC boosted its stake in shares of Fomento Economico Mexicano by 25.7% during the first quarter. One Wealth Advisors LLC now owns 6,377 shares of the company’s stock valued at $622,000 after purchasing an additional 1,305 shares during the period. Choreo LLC boosted its stake in shares of Fomento Economico Mexicano by 3.1% during the first quarter. Choreo LLC now owns 16,769 shares of the company’s stock valued at $1,636,000 after purchasing an additional 509 shares during the period. Wealth Alliance LLC purchased a new stake in shares of Fomento Economico Mexicano during the first quarter valued at approximately $416,000. Finally, Cable Hill Partners LLC purchased a new stake in shares of Fomento Economico Mexicano during the first quarter valued at approximately $217,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX opened at $88.90 on Friday. The stock has a fifty day simple moving average of $101.82 and a two-hundred day simple moving average of $98.05. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 4.27 and a beta of 0.66. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $114.33.

Fomento Economico Mexicano (NYSE:FMX) last posted 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. Research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a — dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a yield of 200.0%. This is a positive change from Fomento Economico Mexicano’s previous — dividend of $0.73. The ex-dividend date was Thursday, July 17th. Fomento Economico Mexicano’s dividend payout ratio is currently 74.83%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FMX shares. Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Barclays dropped their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Thursday. Itau BBA Securities raised Fomento Economico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Finally, UBS Group raised their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Fomento Economico Mexicano has an average rating of “Hold” and an average price target of $107.20.

About Fomento Economico Mexicano

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.