Gamco Investors INC. ET AL Buys 11,000 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Gamco Investors INC. ET AL grew its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,709 shares of the company’s stock after acquiring an additional 11,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Fomento Económico Mexicano were worth $13,934,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in Fomento Económico Mexicano during the 2nd quarter worth about $752,000. Advisory Services Network LLC grew its holdings in Fomento Económico Mexicano by 44.3% during the 1st quarter. Advisory Services Network LLC now owns 342 shares of the company’s stock worth $33,000 after acquiring an additional 105 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Fomento Económico Mexicano by 117.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock worth $35,000 after acquiring an additional 227 shares during the period. Tower Research Capital LLC TRC grew its holdings in Fomento Económico Mexicano by 213.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 539 shares of the company’s stock worth $51,000 after acquiring an additional 367 shares during the period. Finally, IFP Advisors Inc grew its holdings in Fomento Económico Mexicano by 4,994.1% during the 2nd quarter. IFP Advisors Inc now owns 866 shares of the company’s stock worth $79,000 after acquiring an additional 849 shares during the period.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $126.94 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $74.90 and a 52 week high of $128.63. The company’s 50 day moving average price is $111.16 and its two-hundred day moving average price is $109.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.93 and a quick ratio of 1.64.

Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Friday, October 27th. The company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.16 by $0.59. Fomento Económico Mexicano had a net margin of 9.01% and a return on equity of 9.42%. The firm had revenue of $10.81 billion for the quarter, compared to analysts’ expectations of $11.22 billion. On average, research analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.69 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, November 7th. Investors of record on Monday, November 6th were issued a $1.0001 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a dividend yield of 1.3%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 17.31%.

Analysts Set New Price Targets

FMX has been the subject of a number of recent analyst reports. Itau BBA Securities downgraded Fomento Económico Mexicano from an “outperform” rating to a “market perform” rating and set a $127.00 price target for the company. in a report on Tuesday, November 7th. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. HSBC raised their target price on Fomento Económico Mexicano from $112.00 to $124.00 and gave the company a “hold” rating in a research note on Friday, August 25th. Barclays upgraded Fomento Económico Mexicano from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $115.00 to $130.00 in a research note on Monday, October 30th. Finally, Citigroup raised their target price on Fomento Económico Mexicano from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Moderate Buy” and a consensus price target of $125.20.

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.