ABS Direct Equity Fund LLC Has $6.68 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• ABS Direct Equity Fund LLC cut its stake in Fomento Economico Mexicano by 26.8% in Q4, selling 24,190 shares and now holding 66,060 shares worth about $6.68 million, which represents 7.9% of the fund's portfolio and is its largest holding.
• Insider activity accelerated: Director Garza sold 52,316 shares on March 25 at an average of $11.07, and insiders have sold a total of 261,575 shares (≈$2.795 million) over the past three months, leaving insiders with 5.68% ownership.
• Fomento Economico Mexicano declared a quarterly dividend of $0.6658 (ex-dividend Apr 22, payable May 4), equal to an annualized $2.66 and a 2.4% yield

ABS Direct Equity Fund LLC trimmed its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 26.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,060 shares of the company's stock after selling 24,190 shares during the quarter. Fomento Economico Mexicano accounts for 7.9% of ABS Direct Equity Fund LLC's portfolio, making the stock its largest holding. ABS Direct Equity Fund LLC's holdings in Fomento Economico Mexicano were worth $6,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keybank National Association OH lifted its position in Fomento Economico Mexicano by 17.9% in the fourth quarter. Keybank National Association OH now owns 20,578 shares of the company's stock worth $2,080,000 after purchasing an additional 3,128 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Fomento Economico Mexicano by 6.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,163 shares of the company's stock valued at $3,347,000 after buying an additional 2,097 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 27.1% in the fourth quarter. Sanctuary Advisors LLC now owns 11,175 shares of the company's stock valued at $1,129,000 after buying an additional 2,383 shares in the last quarter. Matthews International Capital Management LLC increased its stake in shares of Fomento Economico Mexicano by 0.8% in the fourth quarter. Matthews International Capital Management LLC now owns 31,291 shares of the company's stock valued at $3,163,000 after buying an additional 238 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its position in Fomento Economico Mexicano by 0.3% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 73,753 shares of the company's stock worth $7,454,000 after purchasing an additional 200 shares during the period. 61.00% of the stock is owned by institutional investors.

Insider Activity at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total value of $579,138.12. Following the completion of the transaction, the director owned 1,233,080 shares of the company's stock, valued at approximately $13,650,195.60. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 261,575 shares of company stock valued at $2,795,188 over the last three months. 5.68% of the stock is currently owned by corporate insiders.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $111.91 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. The stock's fifty day moving average price is $111.47 and its two-hundred day moving average price is $104.53. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $119.21. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of 39.27, a P/E/G ratio of 0.78 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.36 EPS for the quarter. The firm had revenue of $12.21 billion for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. On average, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be issued a $0.6658 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.4%. Fomento Economico Mexicano's dividend payout ratio is 82.11%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FMX shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Tuesday, April 21st. Barclays lifted their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. UBS Group lifted their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a report on Friday, March 20th. The Goldman Sachs Group boosted their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $113.17.

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.

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