Seven Eight Capital LP Invests $921,000 in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Seven Eight Capital LP bought a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,557 shares of the company’s stock, valued at approximately $921,000.

A number of other large investors have also bought and sold shares of the business. Park Place Capital Corp raised its position in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after purchasing an additional 97 shares during the last quarter. Mather Group LLC. acquired a new position in Fomento Económico Mexicano during the 1st quarter worth about $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Fomento Económico Mexicano during the 2nd quarter worth about $51,000. Parallel Advisors LLC increased its position in Fomento Económico Mexicano by 22.1% in the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after acquiring an additional 134 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Fomento Económico Mexicano Trading Down 2.4 %

Shares of NYSE FMX opened at $99.75 on Friday. The company’s 50 day simple moving average is $108.01 and its 200 day simple moving average is $114.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $99.02 and a fifty-two week high of $143.43. The firm has a market capitalization of $35.69 billion, a P/E ratio of 27.03, a P/E/G ratio of 5.75 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The business 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%. On average, analysts predict 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 business also recently declared 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 of this dividend was Wednesday, July 17th. This is a boost from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

About Fomento Económico 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.