Exchange Traded Concepts LLC Boosts Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Exchange Traded Concepts LLC raised its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 41.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 203,498 shares of the company’s stock after buying an additional 59,633 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Fomento Economico Mexicano were worth $20,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Value Partners Investments Inc. lifted its position in Fomento Economico Mexicano by 43.3% during the third quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock valued at $13,516,000 after purchasing an additional 41,400 shares during the period. Strs Ohio boosted its holdings in Fomento Economico Mexicano by 8.5% in the third quarter. Strs Ohio now owns 319,300 shares of the company’s stock valued at $31,493,000 after purchasing an additional 25,000 shares during the last quarter. LBP AM SA grew its position in Fomento Economico Mexicano by 22.1% during the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after purchasing an additional 93,997 shares during the period. ABS Direct Equity Fund LLC raised its stake in shares of Fomento Economico Mexicano by 37.6% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock valued at $8,901,000 after buying an additional 24,650 shares during the last quarter. Finally, INCA Investments LLC raised its stake in shares of Fomento Economico Mexicano by 34.6% during the 3rd quarter. INCA Investments LLC now owns 369,725 shares of the company’s stock valued at $36,466,000 after buying an additional 94,956 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Garza Alfonso Garza sold 52,316 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $10.31, for a total transaction of $539,377.96. Following the transaction, the director directly owned 1,337,712 shares in the company, valued at $13,791,810.72. The trade was a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 156,948 shares of company stock valued at $1,630,690. Company insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

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

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $107.74 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $116.09. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 0.78 and a beta of 0.42. The company has a fifty day simple moving average of $108.77 and a 200-day simple moving average of $101.30. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39.

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

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a $2.0531 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.6%. Fomento Economico Mexicano’s dividend payout ratio is 79.65%.

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.