Cook & Bynum Capital Management LLC bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 233,445 shares of the company’s stock, valued at approximately $29,857,616,000. Fomento Economico Mexicano makes up approximately 22.2% of Cook & Bynum Capital Management LLC’s holdings, making the stock its 3rd biggest holding.
Several other hedge funds also recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Fomento Economico Mexicano in the 4th quarter valued at $50,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares during the period. Institutional investors own 61.00% of the company’s stock.
Insiders Place Their Bets
In related news, Director Michael David Kahn acquired 2,100 shares of Fomento Economico Mexicano stock in a transaction 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 transaction, the director owned 2,100 shares in the company, valued at $248,073. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.68% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Check Out Our Latest Research Report on FMX
Fomento Economico Mexicano Price Performance
FMX opened at $123.61 on Wednesday. The stock has a market capitalization of $42.71 billion, a P/E ratio of 24.72, a PEG ratio of 0.68 and a beta of 0.40. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.33 and a 12-month high of $141.47. The stock has a 50-day moving average price of $125.48 and a 200-day moving average price of $118.94.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The company had revenue of $13.20 billion for the quarter. Equities analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were issued a $1.827 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 annualized dividend and a yield of 5.9%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 48.60%.
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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