Virtu Financial LLC Makes New Investment in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Virtu Financial LLC opened a new position in Fomento Economico Mexicano (NYSE:FMX), buying 11,247 shares worth about $1.14 million in the fourth quarter.
• Institutional interest remains significant, with hedge funds and other investors making various moves; overall, institutions own 61% of FMX shares.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus, with a consensus target price of $117.17, while shares recently traded around $126.63 and the company also paid a quarterly dividend of $0.6658 per share.

Virtu Financial LLC acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,247 shares of the company's stock, valued at approximately $1,137,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in Fomento Economico Mexicano by 2,006.2% during the second 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 period. Tower Research Capital LLC TRC raised its holdings 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 in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Fomento Economico Mexicano during the fourth quarter worth about $50,000. Brown Brothers Harriman & Co. increased its position in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company's stock worth $72,000 after purchasing an additional 499 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Fomento Economico Mexicano by 15.1% in the 4th quarter. UMB Bank n.a. now owns 733 shares of the company's stock valued at $74,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Insider Buying and Selling

In related news, Director Garza Alfonso Garza sold 52,316 shares of the firm's stock in a transaction that occurred on 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 directly owned 1,233,080 shares of the company's stock, valued at approximately $13,650,195.60. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 156,943 shares of company stock valued at $1,703,876. 5.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on FMX shares. Barclays lifted their target price on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. UBS Group raised their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 11th. Zacks Research raised Fomento Economico Mexicano from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $117.17.

Fomento Economico Mexicano Trading Up 0.1%

Shares of FMX stock opened at $126.63 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $43.76 billion, a P/E ratio of 28.33, a PEG ratio of 0.73 and a beta of 0.42. The company has a 50 day moving average of $120.50 and a 200-day moving average of $111.43. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $130.55.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. The business had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. Sell-side 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 declared a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were paid a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano's dividend payout ratio is presently 53.47%.

Fomento Economico Mexicano Company 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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