Virtu Financial LLC Takes Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Virtu Financial LLC acquired a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,247 shares of the company’s stock, valued at approximately $1,137,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FMX. Fundamenta Capital S.A. purchased a new position in shares of Fomento Economico Mexicano during the 4th quarter valued at $13,527,000. Victory Capital Management Inc. increased its holdings in shares of Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock worth $59,176,000 after purchasing an additional 595,388 shares during the period. Northcape Capital Pty Ltd raised its position in shares of Fomento Economico Mexicano by 15.1% in the fourth quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company’s stock worth $46,279,000 after buying an additional 58,920 shares in the last quarter. INCA Investments LLC boosted its stake in Fomento Economico Mexicano by 6.9% during the fourth quarter. INCA Investments LLC now owns 395,261 shares of the company’s stock valued at $39,949,000 after buying an additional 25,536 shares during the period. Finally, Perpetual Ltd boosted its stake in Fomento Economico Mexicano by 100.2% during the fourth quarter. Perpetual Ltd now owns 85,067 shares of the company’s stock valued at $8,598,000 after buying an additional 42,580 shares during the period. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

FMX has been the topic of a number of research analyst reports. Barclays upped their target price on Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. UBS Group boosted their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.17.

Fomento Economico Mexicano Stock Up 0.1%

Shares of NYSE:FMX opened at $126.63 on Friday. The firm has a market capitalization of $43.76 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 0.73 and a beta of 0.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $130.55. The firm has a fifty day moving average of $120.50 and a 200 day moving average of $111.43.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.The business had revenue of $11.61 billion during the quarter. As a group, research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd were paid a $0.6658 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.1%. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.

Insider Activity at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total transaction of $579,138.12. Following the transaction, the director owned 1,233,080 shares of the company’s stock, valued at approximately $13,650,195.60. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 156,943 shares of company stock worth $1,703,876. 5.68% of the stock is currently owned by company insiders.

Fomento Economico Mexicano 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.