Madison Asset Management LLC Takes $1.73 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Madison Asset Management LLC purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 13,499 shares of the company’s stock, valued at approximately $1,727,000.

A number of other institutional investors and hedge funds have also modified their holdings of FMX. Trust Co. of Vermont bought a new position in Fomento Economico Mexicano in the second quarter valued at approximately $102,000. Contravisory Investment Management Inc. bought a new position in shares of Fomento Economico Mexicano in the 2nd quarter worth $320,000. Assenagon Asset Management S.A. bought a new position in shares of Fomento Economico Mexicano in the 2nd quarter worth $2,411,000. Confluence Investment Management LLC grew its stake in shares of Fomento Economico Mexicano by 9.2% during the second quarter. Confluence Investment Management LLC now owns 2,979 shares of the company’s stock worth $381,000 after purchasing an additional 252 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Fomento Economico Mexicano by 46.3% in the first quarter. NewEdge Advisors LLC now owns 6,016 shares of the company’s stock valued at $668,000 after purchasing an additional 1,905 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael David Kahn purchased 2,100 shares of the stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $118.13 per share, with a total value of $248,073.00. Following the transaction, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on FMX shares. Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a research note on Tuesday, August 4th. Barclays upped their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the company from $125.00 to $150.00 in a research 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 note on Saturday, July 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Four equities research 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.com, Fomento Economico Mexicano presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.43.

Fomento Economico Mexicano Trading Up 0.2%

Shares of NYSE:FMX opened at $118.94 on Friday. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.66 and a beta of 0.40. The company’s fifty day simple moving average is $125.81 and its 200 day simple moving average is $118.61. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $141.47. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data 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. As a group, research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS 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. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a dividend yield of 6.1%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 48.60%.

About Fomento Economico Mexicano

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.