Assetmark Inc. Purchases 9,730 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Assetmark Inc. boosted its stake in Fomento Economico Mexicano by 61.3%, buying 9,730 shares to own 25,592 shares worth about $2.59 million per its latest 13F filing.
• FEMSA has a market cap of $40.68 billion and a P/E of 41.3; it reported $1.36 EPS and $12.21 billion in quarterly revenue, and announced a quarterly dividend of $0.6658 (annualized $2.66) for a ~2.3% yield and an 80% payout ratio.
• Consensus rating: Hold with an average price target of $110.67 (three Buys, five Holds), while insiders have sold 261,575 shares in the last 90 days (insiders own 5.68%) and institutional investors hold about 61% of the stock.

Assetmark Inc. boosted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 61.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,592 shares of the company's stock after buying an additional 9,730 shares during the period. Assetmark Inc.'s holdings in Fomento Economico Mexicano were worth $2,587,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after acquiring an additional 321 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock worth $45,000 after buying an additional 131 shares during the period. Mather Group LLC. bought a new position in shares of Fomento Economico Mexicano during the 3rd quarter worth approximately $54,000. Brown Brothers Harriman & Co. boosted its stake in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company's stock valued at $72,000 after buying an additional 499 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Fomento Economico Mexicano by 49.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,170 shares of the company's stock valued at $119,000 after buying an additional 385 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Down 0.0%

NYSE FMX opened at $117.72 on Monday. The stock's 50 day simple moving average is $111.35 and its 200 day simple moving average is $103.54. 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 $40.68 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 0.86 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion during the quarter. As a group, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 2.3%. Fomento Economico Mexicano's dividend payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays increased their price objective 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. The Goldman Sachs Group boosted their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. UBS Group upped their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $110.67.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the business's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total value of $585,360.09. Following the completion of the transaction, the director directly owned 1,128,453 shares of the company's stock, valued at approximately $12,627,389.07. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 261,575 shares of company stock valued at $2,795,188. Company insiders own 5.68% of the company's stock.

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.

Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.