Oppenheimer Asset Management Inc. Lowers Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Oppenheimer Asset Management Inc. decreased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,063 shares of the company’s stock after selling 602 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $5,282,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Park Place Capital Corp grew its holdings in shares of Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Mather Group LLC. purchased a new stake in shares of Fomento Económico Mexicano during the 1st quarter worth about $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Fomento Económico Mexicano during the 2nd quarter worth approximately $51,000. Parallel Advisors LLC lifted its position in Fomento Económico Mexicano by 22.1% during the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock worth $97,000 after acquiring an additional 134 shares in the last quarter. Finally, CWM LLC lifted its position in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares in the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $104.57 on Monday. The business’s 50 day moving average is $109.19 and its two-hundred day moving average is $115.22. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $99.24 and a 52-week high of $143.43. The firm has a market cap of $37.41 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 5.75 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

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

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were given a $1.0206 dividend. This represents a dividend yield of 1.5%. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. The ex-dividend date of this dividend was Wednesday, July 17th. Fomento Económico Mexicano’s dividend payout ratio is presently 14.36%.

Analysts Set New Price Targets

Several equities analysts recently commented on FMX shares. Barclays reduced their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and an average price target of $139.50.

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.