Dynamic Technology Lab Private Ltd bought a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,804 shares of the company’s stock, valued at approximately $268,000.
Other large investors have also made changes to their positions in the company. Permit Capital LLC boosted its position in shares of Fomento Economico Mexicano by 12.8% during the second quarter. Permit Capital LLC now owns 1,100 shares of the company’s stock valued at $109,000 after buying an additional 125 shares during the period. Quantbot Technologies LP boosted its position in shares of Fomento Economico Mexicano by 453.3% during the third quarter. Quantbot Technologies LP now owns 1,101 shares of the company’s stock valued at $105,000 after buying an additional 902 shares during the period. Intrust Bank NA purchased a new position in shares of Fomento Economico Mexicano during the second quarter valued at approximately $200,000. OxFORD Asset Management LLP purchased a new position in shares of Fomento Economico Mexicano during the second quarter valued at approximately $201,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of Fomento Economico Mexicano in the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 26.06% of the company’s stock.
Shares of Fomento Economico Mexicano S.A.B. de C.V. (FMX) traded up $0.75 during midday trading on Wednesday, hitting $93.99. The company had a trading volume of 747,200 shares, compared to its average volume of 411,573. The company has a quick ratio of 1.55, a current ratio of 1.88 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $33,363.38, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.85 and a beta of 0.54. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $73.45 and a 12-month high of $103.82.
The company also recently declared a semiannual dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were issued a $0.6759 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a dividend yield of 1.52%. Fomento Economico Mexicano’s payout ratio is 18.99%.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub upgraded Fomento Economico Mexicano from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Finally, Morgan Stanley assumed coverage on Fomento Economico Mexicano in a report on Thursday, September 14th. They issued an “overweight” rating and a $120.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $114.40.
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Fomento Economico Mexicano Profile
Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.
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