Councilmark Asset Management LLC Purchases Shares of 8,805 Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Councilmark Asset Management initiated a position in Fomento Economico Mexicano, purchasing 8,805 shares valued at approximately $1.13 million. Institutional investors collectively own 61% of FMX.
• FEMSA reported quarterly earnings of $0.93 per share on $13.20 billion in revenue and increased its quarterly dividend to $1.827 per share, implying a 5.9% annualized yield.
• FMX shares opened at $123.61, while analysts maintained a “Moderate Buy” consensus with an average price target of $131.43; price targets ranged from $126 to $150.

Councilmark Asset Management LLC acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,805 shares of the company's stock, valued at approximately $1,126,000.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its position in Fomento Economico Mexicano by 2,006.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock valued at $45,000 after purchasing an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano in the 4th quarter valued at $50,000. Finally, Brown Brothers Harriman & Co. raised its position 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 purchasing an additional 499 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fomento Economico Mexicano

In other news, Director Michael David Kahn acquired 2,100 shares of the stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the purchase, the director directly owned 2,100 shares of the company's stock, valued at approximately $248,073. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.68% of the company's stock.

Fomento Economico Mexicano Stock Up 1.3%

Shares of Fomento Economico Mexicano stock opened at $123.61 on Wednesday. The company has a market capitalization of $42.71 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The business has a 50-day moving average of $125.48 and a two-hundred day moving average of $118.94. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.33 and a 1 year high of $141.47.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The firm 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, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a yield of 5.9%. Fomento Economico Mexicano's dividend payout ratio is presently 48.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FMX shares. Barclays boosted their target price on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an "overweight" rating in a report on Friday, June 26th. UBS Group reiterated a "neutral" rating and issued a $139.00 price objective on shares of Fomento Economico Mexicano in a research report on Thursday, August 6th. Bank of America raised Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.43.

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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