A. D. Beadell Investment Counsel Inc. increased its position in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 40.7% during the first quarter, Holdings Channel reports. The fund owned 8,335 shares of the company’s stock after buying an additional 2,410 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Fomento Economico Mexicano SAB were worth $737,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Howe & Rusling Inc. increased its stake in Fomento Economico Mexicano SAB by 288.4% in the first quarter. Howe & Rusling Inc. now owns 1,301 shares of the company’s stock worth $115,000 after buying an additional 966 shares during the last quarter. Creative Planning increased its stake in Fomento Economico Mexicano SAB by 658.7% in the first quarter. Creative Planning now owns 2,534 shares of the company’s stock worth $224,000 after buying an additional 2,200 shares during the last quarter. Dumac Inc. bought a new stake in Fomento Economico Mexicano SAB during the fourth quarter worth $221,000. Fox Run Management L.L.C. bought a new stake in Fomento Economico Mexicano SAB during the first quarter worth $257,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Fomento Economico Mexicano SAB during the fourth quarter worth $284,000. Institutional investors own 22.83% of the company’s stock.
Fomento Economico Mexicano SAB (NYSE:FMX) traded down 0.14% during midday trading on Friday, reaching $90.68. 385,732 shares of the company traded hands. Fomento Economico Mexicano SAB has a one year low of $73.45 and a one year high of $100.57. The stock’s 50 day moving average is $89.29 and its 200 day moving average is $84.32. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 28.79 and a beta of 0.67.
Fomento Economico Mexicano SAB (NYSE:FMX) last announced its earnings results on Monday, February 27th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by $0.12. The business had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $4.91 billion. Fomento Economico Mexicano SAB had a net margin of 5.72% and a return on equity of 8.47%. On average, equities analysts anticipate that Fomento Economico Mexicano SAB will post $2.74 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Monday, May 15th. Investors of record on Thursday, May 4th will be issued a dividend of $0.687 per share. This represents a dividend yield of 1.51%. The ex-dividend date is Tuesday, May 2nd. This is an increase from Fomento Economico Mexicano SAB’s previous semiannual dividend of $0.68. Fomento Economico Mexicano SAB’s dividend payout ratio is currently 50.19%.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd. Barclays PLC set a $92.00 price target on shares of Fomento Economico Mexicano SAB and gave the company a “buy” rating in a research note on Monday, January 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $100.33.
About Fomento Economico Mexicano SAB
Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.
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