Caprock Group LLC Makes New Investment in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Caprock Group LLC bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,253 shares of the company’s stock, valued at approximately $518,000.

Several other large investors have also modified their holdings of the business. Citigroup Inc. increased its position in shares of Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after purchasing an additional 1,296,194 shares during the last quarter. AQR Capital Management LLC boosted its stake in Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after buying an additional 709,957 shares during the period. Altrinsic Global Advisors LLC increased its position in shares of Fomento Economico Mexicano by 52.4% during the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after acquiring an additional 324,781 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Fomento Economico Mexicano by 43.6% in the 2nd quarter. Acadian Asset Management LLC now owns 550,894 shares of the company’s stock valued at $56,716,000 after acquiring an additional 167,250 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Fomento Economico Mexicano by 21.7% in the 2nd quarter. Invesco Ltd. now owns 623,833 shares of the company’s stock valued at $64,242,000 after acquiring an additional 111,127 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX opened at $114.56 on Wednesday. The business has a fifty day moving average price of $104.92 and a 200 day moving average price of $97.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $115.90.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a $2.0531 dividend. This is an increase 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 7.2%. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is presently 91.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Barclays lifted 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 research note on Thursday, January 22nd. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group raised their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock 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.