Transcend Capital Advisors LLC Acquires New Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Transcend Capital Advisors LLC acquired a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,376 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds have also added to or reduced their stakes in FMX. Nuveen LLC bought a new position in Fomento Economico Mexicano in the first quarter valued at approximately $330,437,000. Itau Unibanco Holding S.A. increased its stake in Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after acquiring an additional 570,640 shares during the last quarter. Strs Ohio bought a new position in Fomento Economico Mexicano in the first quarter valued at approximately $28,718,000. Acadian Asset Management LLC increased its stake in Fomento Economico Mexicano by 325.7% in the first quarter. Acadian Asset Management LLC now owns 383,644 shares of the company’s stock valued at $37,421,000 after acquiring an additional 293,524 shares during the last quarter. Finally, INCA Investments LLC increased its stake in Fomento Economico Mexicano by 106.1% in the second quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock valued at $28,296,000 after acquiring an additional 141,419 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $95.58 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.10. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $108.74. The stock has a market cap of $34.20 billion, a PE ratio of 38.54, a PEG ratio of 5.54 and a beta of 0.72. The firm’s fifty day moving average price is $92.80 and its two-hundred day moving average price is $97.68.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The business had revenue of $11.71 billion during the quarter, compared to the consensus estimate of $215.60 billion. On average, equities analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a $1.9982 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend was Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is presently 90.32%.

Analysts Set New Price Targets

FMX has been the topic of a number of recent analyst reports. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $115.00 to $111.00 in a research note on Friday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.97.

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.