Madison Asset Management LLC Makes New $1.73 Million Investment in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Madison Asset Management LLC purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,499 shares of the company’s stock, valued at approximately $1,727,000.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Fomento Economico Mexicano during the first quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 buying an additional 321 shares during the period. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Fomento Economico Mexicano in the fourth quarter valued at $50,000. Finally, Brown Brothers Harriman & Co. grew its position in Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after acquiring an additional 499 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Zacks Research downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Barclays increased their target price on shares of 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. lifted their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Fomento Economico Mexicano in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.43.

Insider Activity at Fomento Economico Mexicano

In other news, Director Michael David Kahn bought 2,100 shares of the stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $118.13 per share, with a total value of $248,073.00. Following the purchase, the director owned 2,100 shares of the company’s stock, valued at approximately $248,073. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.68% of the company’s stock.

Fomento Economico Mexicano Stock Performance

Shares of NYSE:FMX opened at $118.94 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $141.47. The firm has a market cap of $41.10 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.66 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The business has a fifty day moving average of $125.81 and a 200-day moving average of $118.61.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The firm had revenue of $13.20 billion during the quarter. On average, equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were given a $1.827 dividend. This represents a $7.31 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio is 48.60%.

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.