Dynasty Wealth Management LLC Buys Shares of 8,129 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Dynasty Wealth Management LLC purchased a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,129 shares of the company’s stock, valued at approximately $1,059,000.

A number of other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Económico Mexicano by 6.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the company’s stock valued at $153,000 after purchasing an additional 72 shares during the period. Park Place Capital Corp boosted its holdings in shares of Fomento Económico Mexicano by 78.2% in the first 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 period. Van ECK Associates Corp boosted its holdings in shares of Fomento Económico Mexicano by 48.6% in the fourth quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock valued at $41,000 after purchasing an additional 104 shares during the period. Blue Trust Inc. boosted its holdings in shares of Fomento Económico Mexicano by 4.0% in the fourth quarter. Blue Trust Inc. now owns 2,855 shares of the company’s stock valued at $372,000 after purchasing an additional 109 shares during the period. Finally, Solstein Capital LLC boosted its holdings in shares of Fomento Económico Mexicano by 0.4% in the first quarter. Solstein Capital LLC now owns 28,372 shares of the company’s stock valued at $3,696,000 after purchasing an additional 118 shares during the period.

Fomento Económico Mexicano Stock Up 2.3 %

Shares of FMX stock traded up $2.50 during trading hours on Wednesday, reaching $110.70. 218,918 shares of the company’s stock were exchanged, compared to its average volume of 694,965. The stock’s 50 day moving average is $111.45 and its 200-day moving average is $121.63. The company has a market cap of $39.61 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 4.05 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $99.24 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th were issued a dividend of $1.0206 per share. The ex-dividend date of this dividend was Wednesday, July 17th. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s payout ratio is 14.63%.

Wall Street Analysts Forecast Growth

Separately, Barclays reduced their price objective on shares of 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.50.

Fomento Económico Mexicano Company 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.