Aberdeen Group plc Increases Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Aberdeen Group plc increased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 10.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,155,766 shares of the company’s stock after purchasing an additional 112,813 shares during the period. Aberdeen Group plc’s holdings in Fomento Economico Mexicano were worth $119,414,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fomento Economico Mexicano during the first quarter valued at $29,000. Farther Finance Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 41.4% during 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 during the period. Alpine Bank Wealth Management bought a new stake in Fomento Economico Mexicano during the first quarter valued at about $46,000. Banque Cantonale Vaudoise bought a new stake in Fomento Economico Mexicano during the first quarter valued at about $51,000. Finally, Brooklyn Investment Group boosted its position in Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $93.74 on Friday. 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 cap of $33.54 billion, a PE ratio of 31.89, a P/E/G ratio of 5.57 and a beta of 0.72. The business has a 50-day simple moving average of $90.48 and a two-hundred day simple moving average of $97.94. 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.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. As a group, 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 declared 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 is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. This represents a $7.99 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend is Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio is 74.83%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday. JPMorgan Chase & Co. raised 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.97.

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.