Factory Mutual Insurance Co. Makes New Investment in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Factory Mutual Insurance Co. purchased a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,151 shares of the company’s stock, valued at approximately $2,875,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position 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 valued at $45,000 after purchasing an additional 131 shares during the period. Smartleaf Asset Management LLC increased its stake in Fomento Economico Mexicano by 16.0% in the 3rd 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 raised its holdings in Fomento Economico Mexicano by 6.2% during the second quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock valued at $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% during 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 during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Fomento Economico Mexicano by 2,006.3% in the second 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 in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FMX shares. Barclays increased their target price on Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. The Goldman Sachs Group increased their price objective 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.50.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock opened at $112.25 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $116.09. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $105.29 and its 200 day moving average is $97.30.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed 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. 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. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 91.94%.

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.