Frank Rimerman Advisors LLC Buys New Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Frank Rimerman Advisors LLC purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,541 shares of the company’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Councilmark Asset Management LLC purchased a new position in shares of Fomento Económico Mexicano in the first quarter worth $1,155,000. Manning & Napier Advisors LLC bought a new stake in Fomento Económico Mexicano in the 2nd quarter valued at $2,994,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in Fomento Económico Mexicano by 29.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock worth $2,595,000 after purchasing an additional 5,505 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fomento Económico Mexicano by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company’s stock valued at $32,640,000 after purchasing an additional 5,796 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Fomento Económico Mexicano by 67.3% during the second quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock valued at $308,000 after purchasing an additional 1,151 shares in the last quarter.

Fomento Económico Mexicano Trading Up 0.7 %

Shares of NYSE FMX opened at $100.99 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $98.97 and a 1-year high of $143.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The business’s 50 day moving average is $107.36 and its two-hundred day moving average is $114.18. The stock has a market capitalization of $36.13 billion, a P/E ratio of 27.37, a PEG ratio of 5.75 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, research analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.44 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th were paid a $1.0206 dividend. The ex-dividend date was Wednesday, July 17th. This represents a dividend yield of 1.5%. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 14.36%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $104.00 to $109.00 in a research report on Monday. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays cut their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano has a consensus rating of “Hold” and a consensus price target of $133.40.

Fomento Económico 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.