Exchange Traded Concepts LLC Grows Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Exchange Traded Concepts LLC grew its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 41.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203,498 shares of the company’s stock after buying an additional 59,633 shares during the period. Exchange Traded Concepts LLC’s holdings in Fomento Economico Mexicano were worth $20,568,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Fomento Economico Mexicano in the second quarter worth $40,000. Tower Research Capital LLC TRC grew its holdings 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 worth $45,000 after purchasing an additional 131 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Fomento Economico Mexicano during the third quarter worth $54,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of Fomento Economico Mexicano by 220.8% during the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FMX shares. UBS Group raised their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Barclays increased their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group raised their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $110.67.

Insider Buying and Selling at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $10.31, for a total value of $539,377.96. Following the transaction, the director directly owned 1,337,712 shares of the company’s stock, valued at approximately $13,791,810.72. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 156,948 shares of company stock valued at $1,630,690 over the last quarter. 5.68% of the stock is currently owned by corporate insiders.

Fomento Economico Mexicano Trading Up 0.7%

NYSE FMX opened at $107.74 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $116.09. The company has a fifty day simple moving average of $108.77 and a two-hundred day simple moving average of $101.30. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a market cap of $37.23 billion, a P/E ratio of 37.81, a P/E/G ratio of 0.78 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The firm had revenue of $12.21 billion for the quarter. On average, analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a dividend of $2.0531 per share. This represents a $8.21 annualized dividend and a yield of 7.6%. The ex-dividend date was Friday, January 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 79.65%.

Fomento Economico Mexicano Company 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.