Caprock Group LLC Purchases Shares of 5,253 Fomento Economico Mexicano S.A.B. de C.V. $FMX

Caprock Group LLC acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 5,253 shares of the company’s stock, valued at approximately $518,000.

A number of other hedge funds have also made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of Fomento Economico Mexicano by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after acquiring an additional 969 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Fomento Economico Mexicano by 9.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,632 shares of the company’s stock worth $786,000 after purchasing an additional 646 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Fomento Economico Mexicano by 6.2% during the second quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock worth $354,000 after purchasing an additional 200 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Fomento Economico Mexicano by 35.0% during the 2nd quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock worth $1,540,000 after buying an additional 3,878 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in shares of Fomento Economico Mexicano by 7.9% in the 2nd quarter. Ethic Inc. now owns 12,676 shares of the company’s stock valued at $1,293,000 after buying an additional 924 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. The Goldman Sachs Group raised their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Barclays upped their target price on Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.50.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock opened at $114.56 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The business has a 50 day simple moving average of $104.92 and a 200-day simple moving average of $97.09. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $115.90.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were paid a $2.0531 dividend. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.2%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 91.94%.

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.