Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Capital Wealth Planning LLC

Key Points

• Capital Wealth Planning LLC cut its stake in Fomento Economico Mexicano by 24.8% in the fourth quarter, selling 11,206 shares and leaving it with 33,904 shares valued at about $3.42 million.
• Several other institutional investors increased their holdings, and institutions now own 61% of the company’s stock, highlighting continued broad interest from hedge funds and asset managers.
• Analysts remain generally positive on FMX: the consensus rating is Moderate Buy with an average price target of $117.17, while UBS and Goldman Sachs recently raised their targets and kept buy ratings.

Capital Wealth Planning LLC lowered its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,904 shares of the company's stock after selling 11,206 shares during the period. Capital Wealth Planning LLC's holdings in Fomento Economico Mexicano were worth $3,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ANTIPODES PARTNERS Ltd increased its position in shares of Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company's stock worth $112,928,000 after purchasing an additional 222,064 shares in the last quarter. Invesco Ltd. increased its position in shares of Fomento Economico Mexicano by 67.8% during the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company's stock worth $103,256,000 after purchasing an additional 423,073 shares in the last quarter. Bank of America Corp DE increased its position in shares of Fomento Economico Mexicano by 21.2% during the third quarter. Bank of America Corp DE now owns 758,186 shares of the company's stock worth $74,780,000 after purchasing an additional 132,440 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock worth $73,171,000 after purchasing an additional 709,957 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Fomento Economico Mexicano by 9.8% during the third quarter. Lazard Asset Management LLC now owns 675,809 shares of the company's stock worth $66,655,000 after purchasing an additional 60,101 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $11.19, for a total value of $585,360.09. Following the sale, the director 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 261,575 shares of company stock valued at $2,795,188. 5.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group lifted their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. The Goldman Sachs Group boosted their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. boosted their price target on Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. Wall Street Zen cut Fomento Economico Mexicano from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 11th. Finally, Barclays boosted their price target on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $117.17.

Fomento Economico Mexicano Price Performance

Shares of FMX opened at $123.69 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $125.71. The stock's 50 day moving average is $118.66 and its two-hundred day moving average is $109.94. The firm has a market capitalization of $42.74 billion, a PE ratio of 27.67, a P/E/G ratio of 0.71 and a beta of 0.42. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.The company had revenue of $11.61 billion for the quarter. Research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd were issued a $0.6658 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano's payout ratio is currently 53.47%.

About Fomento Economico Mexicano

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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