ABS Direct Equity Fund LLC Has $6.17 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

ABS Direct Equity Fund LLC lowered its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 26.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,250 shares of the company's stock after selling 17,050 shares during the period. Fomento Economico Mexicano comprises about 5.4% of ABS Direct Equity Fund LLC's portfolio, making the stock its 5th largest position. ABS Direct Equity Fund LLC's holdings in Fomento Economico Mexicano were worth $6,171,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Fomento Economico Mexicano during the first quarter worth $28,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Fomento Economico Mexicano in the 2nd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fomento Economico Mexicano by 2,006.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock worth $35,000 after buying an additional 321 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Fomento Economico Mexicano by 42.5% during the second 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 during the period. Finally, Atlas Capital Advisors Inc. purchased a new stake in Fomento Economico Mexicano during the fourth quarter worth about $50,000. 61.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Michael David Kahn purchased 2,100 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the transaction, the director owned 2,100 shares in the company, valued at $248,073. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FMX shares. Bank of America raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th. Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Barclays upped their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Fomento Economico Mexicano from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 4th. Three investment 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, Fomento Economico Mexicano presently has a consensus rating of "Hold" and an average price target of $137.17.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX opened at $117.39 on Friday. The company has a 50 day moving average of $123.83 and a 200 day moving average of $119.58. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The stock has a market cap of $40.56 billion, a P/E ratio of 23.48, a P/E/G ratio of 0.66 and a beta of 0.40. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $86.75 and a 12 month high of $141.47.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were paid a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a yield of 6.2%. This is an increase from Fomento Economico Mexicano's previous quarterly dividend of $0.67. Fomento Economico Mexicano's dividend payout ratio is currently 48.60%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based company with operations spanning beverage production and distribution, retail, and digital services. Through Coca-Cola FEMSA, the company produces, markets, sells and distributes products under The Coca-Cola Company portfolio, including sparkling beverages, water, sports drinks and other nonalcoholic beverages.

FEMSA also operates a broad network of convenience stores under the OXXO brand. Its retail activities include the sale of packaged food, beverages, tobacco products, personal-care items and other everyday goods, as well as services such as bill payment and financial transactions.

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