Klein Pavlis & Peasley Financial Inc. Boosts Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Klein Pavlis & Peasley Financial Inc. grew its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,433 shares of the company’s stock after acquiring an additional 2,389 shares during the quarter. Fomento Economico Mexicano accounts for approximately 2.8% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 10th biggest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Fomento Economico Mexicano were worth $4,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in Fomento Economico Mexicano in the 1st quarter valued at about $29,000. Farther Finance Advisors LLC raised its position 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. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano in the first quarter valued at approximately $46,000. Banque Cantonale Vaudoise bought a new stake in shares of Fomento Economico Mexicano in the first quarter valued at approximately $51,000. Finally, Brooklyn Investment Group boosted its stake in shares of Fomento Economico Mexicano by 112.4% in the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after buying an additional 382 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FMX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised 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. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. 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, July 31st. Zacks Research downgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. Finally, 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 report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.97.

Fomento Economico Mexicano Stock Up 1.6%

Shares of NYSE FMX opened at $98.47 on Monday. The company has a market cap of $35.23 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 5.77 and a beta of 0.70. 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 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 50-day moving average price of $90.18 and a two-hundred day moving average price of $98.11.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts forecast 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 announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. This represents a $5.45 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Thursday, July 17th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.73. Fomento Economico Mexicano’s payout ratio is currently 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.