Capital Wealth Planning LLC Invests $4.45 Million in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Capital Wealth Planning LLC bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,110 shares of the company’s stock, valued at approximately $4,449,000.

Several other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Fomento Economico Mexicano during the second quarter valued at $40,000. Tower Research Capital LLC TRC boosted its holdings 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 valued at $45,000 after buying an additional 131 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Fomento Economico Mexicano in the 3rd quarter worth about $54,000. Finally, MAI Capital Management grew its position in shares of Fomento Economico Mexicano by 131.1% in the 2nd quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after buying an additional 447 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Stock Performance

FMX stock opened at $106.33 on Friday. The stock has a market capitalization of $36.74 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 4.16 and a beta of 0.42. 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 current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $108.03 and its 200 day simple moving average is $99.93.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The business had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. As a group, research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 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, January 26th. Investors of record on Friday, January 16th were issued a $2.0531 dividend. This represents a $8.21 annualized dividend and a yield of 7.7%. The ex-dividend date was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is 80.00%.

Analyst Ratings Changes

FMX has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays upped their price objective on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $108.83.

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.