Cook & Bynum Capital Management LLC bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 233,445 shares of the company’s stock, valued at approximately $29,857,616. Fomento Economico Mexicano makes up approximately 0.0% of Cook & Bynum Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Cook & Bynum Capital Management LLC owned about 0.07% of Fomento Economico Mexicano as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Madison Asset Management LLC bought a new stake in shares of Fomento Economico Mexicano in the 2nd quarter valued at approximately $1,727,000. Trust Co. of Vermont acquired a new position in shares of Fomento Economico Mexicano during the second quarter worth $102,000. Contravisory Investment Management Inc. acquired a new stake in Fomento Economico Mexicano in the 2nd quarter valued at $320,000. Assenagon Asset Management S.A. bought a new stake in shares of Fomento Economico Mexicano in the 2nd quarter worth approximately $2,411,000. Finally, Confluence Investment Management LLC grew its stake in Fomento Economico Mexicano by 9.2% in the 2nd quarter. Confluence Investment Management LLC now owns 2,979 shares of the company’s stock worth $381,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on FMX. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. UBS Group reiterated a “neutral” rating and set a $139.00 target price on shares of Fomento Economico Mexicano in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a research note on Tuesday, August 4th. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price objective for the company from $125.00 to $150.00 in a research report on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.43.
Fomento Economico Mexicano Price Performance
FMX stock traded down $0.14 during midday trading on Friday, reaching $120.20. The company had a trading volume of 113,472 shares, compared to its average volume of 468,036. The firm has a 50-day moving average price of $125.30 and a 200-day moving average price of $119.12. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.33 and a 1 year high of $141.47. The company has a market capitalization of $41.53 billion, a P/E ratio of 24.04, a P/E/G ratio of 0.68 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The business had revenue of $13.20 billion during the quarter. On average, research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 earnings per share for the current fiscal year.
Fomento Economico Mexicano Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were given a $1.827 dividend. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 48.60%.
Insider Activity at Fomento Economico Mexicano
In other Fomento Economico Mexicano news, Director Michael David Kahn bought 2,100 shares of the stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at approximately $248,073. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.68% of the stock is currently owned by corporate insiders.
Fomento Economico Mexicano Profile
Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.
FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.
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