Councilmark Asset Management LLC acquired a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) during the second quarter, Holdings Channel.com reports. The fund acquired 8,805 shares of the company’s stock, valued at approximately $1,126,000.
Several other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 7.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after purchasing an additional 96 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after buying an additional 96 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares in the last quarter. HB Wealth Management LLC boosted its stake in Fomento Economico Mexicano by 5.8% in the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after buying an additional 136 shares in the last quarter. Finally, Arax Advisory Partners grew its position in Fomento Economico Mexicano by 20.1% in the fourth quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after acquiring an additional 136 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on FMX. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. 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. Weiss Ratings cut shares of Fomento Economico Mexicano from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. increased their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.43.
Fomento Economico Mexicano Stock Up 1.3%
Fomento Economico Mexicano stock opened at $123.61 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.33 and a 52-week high of $141.47. The firm has a 50 day moving average price of $125.48 and a two-hundred day moving average price of $118.94. The firm has a market cap of $42.71 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 0.68 and a beta of 0.40.
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 for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The firm had revenue of $13.20 billion during the quarter. Equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current year.
Fomento Economico Mexicano Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 annualized dividend and a dividend yield of 5.9%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 48.60%.
Insider Activity
In related news, Director Michael David Kahn bought 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at $248,073. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.68% of the stock is owned by 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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