Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Bought by Lbp Am Sa

Key Points

• Lbp Am Sa raised its stake in Fomento Economico Mexicano (NYSE:FMX) by 2.1% to 529,380 shares, worth about $53.5 million, making FMX its 25th-largest holding and ~0.6% of its portfolio.
• Director Alfonso Garza sold 52,316 shares at an average price of $11.07 (≈$579,138), and insiders sold 261,575 shares (~$2.8M) in the quarter; insiders now own 5.68% of the company.
• FEMSA declared a quarterly dividend of $0.6658 per share (annualized $2.66), implying a ~2.3% yield and a payout ratio of 80%.

Lbp Am Sa raised its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,380 shares of the company's stock after acquiring an additional 10,848 shares during the period. Fomento Economico Mexicano accounts for approximately 0.6% of Lbp Am Sa's portfolio, making the stock its 25th largest position. Lbp Am Sa's holdings in Fomento Economico Mexicano were worth $53,504,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock valued at $45,000 after acquiring an additional 131 shares in the last quarter. Signaturefd LLC boosted its stake in Fomento Economico Mexicano by 5.1% in the fourth quarter. Signaturefd LLC now owns 2,986 shares of the company's stock valued at $302,000 after acquiring an additional 144 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its stake in Fomento Economico Mexicano by 2.9% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 5,467 shares of the company's stock valued at $552,000 after acquiring an additional 153 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Fomento Economico Mexicano by 16.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,357 shares of the company's stock valued at $135,000 after acquiring an additional 187 shares in the last quarter. Finally, One Wealth Advisors LLC boosted its stake in Fomento Economico Mexicano by 3.1% in the third quarter. One Wealth Advisors LLC now owns 7,033 shares of the company's stock valued at $694,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Insider Activity

In other news, Director Garza Alfonso Garza sold 52,316 shares of the business's stock in a transaction dated 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 directly owned 1,233,080 shares in the company, valued at $13,650,195.60. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 261,575 shares of company stock worth $2,795,188 in the last quarter. Insiders own 5.68% of the company's stock.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX opened at $117.04 on Thursday. The company has a 50-day simple moving average of $111.00 and a 200-day simple moving average of $103.22. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $118.43. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The stock has a market capitalization of $40.44 billion, a price-to-earnings ratio of 41.07, a PEG ratio of 0.84 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The business had revenue of $12.21 billion during the quarter. On average, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Barclays upped their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. The Goldman Sachs Group upped their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, UBS Group upped their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $110.67.

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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