Assetmark Inc. Purchases 4,562 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Assetmark Inc. lifted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 40.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,862 shares of the company’s stock after buying an additional 4,562 shares during the quarter. Assetmark Inc.’s holdings in Fomento Economico Mexicano were worth $1,564,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 131 shares during the period. Smartleaf Asset Management LLC grew its position in Fomento Economico Mexicano by 16.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,357 shares of the company’s stock worth $135,000 after buying an additional 187 shares in the last quarter. Yousif Capital Management LLC increased its stake in Fomento Economico Mexicano by 6.2% during the 2nd quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock worth $354,000 after acquiring an additional 200 shares during the period. One Wealth Advisors LLC raised its holdings in Fomento Economico Mexicano by 3.1% in the 3rd 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. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the period. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Shares of FMX stock opened at $112.25 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. The business’s 50-day moving average price is $105.29 and its 200-day moving average price is $97.30. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $116.09.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a dividend of $2.0531 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.3%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s payout ratio is currently 91.94%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FMX. 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 note on Wednesday, February 11th. Barclays raised their target price on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus target price of $108.50.

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.