DAVENPORT & Co LLC Has $2.87 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

DAVENPORT & Co LLC raised its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 23.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,406 shares of the company’s stock after buying an additional 5,423 shares during the period. DAVENPORT & Co LLC’s holdings in Fomento Economico Mexicano were worth $2,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Value Partners Investments Inc. boosted its holdings in Fomento Economico Mexicano by 43.3% in the third quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock valued at $13,516,000 after acquiring an additional 41,400 shares during the last quarter. Strs Ohio raised its holdings in Fomento Economico Mexicano by 8.5% during the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after purchasing an additional 25,000 shares during the last quarter. LBP AM SA raised its holdings in Fomento Economico Mexicano by 22.1% during the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after purchasing an additional 93,997 shares during the last quarter. ABS Direct Equity Fund LLC lifted its position in shares of Fomento Economico Mexicano by 37.6% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock worth $8,901,000 after purchasing an additional 24,650 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of Fomento Economico Mexicano by 79.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 143,865 shares of the company’s stock worth $14,189,000 after purchasing an additional 63,865 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $107.74 on Friday. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 0.78 and a beta of 0.42. 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 stock’s 50 day moving average price is $108.77 and its two-hundred day moving average price is $101.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The company had revenue of $12.21 billion during the quarter. On average, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were issued a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 dividend on an annualized basis and a yield of 7.6%. Fomento Economico Mexicano’s dividend payout ratio is 79.65%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. UBS Group boosted their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, Barclays increased their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $110.67.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $10.31, for a total value of $539,377.96. Following the completion of the sale, the director directly owned 1,337,712 shares of the company’s stock, valued at approximately $13,791,810.72. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 156,948 shares of company stock valued at $1,630,690 over the last ninety days. Insiders own 5.68% of the company’s stock.

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.