Perpetual Ltd Purchases 42,580 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Perpetual Ltd grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 100.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,067 shares of the company’s stock after buying an additional 42,580 shares during the period. Perpetual Ltd’s holdings in Fomento Economico Mexicano were worth $8,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted 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 during the period. Steward Partners Investment Advisory LLC bought a new position in Fomento Economico Mexicano during the second quarter worth about $40,000. Tower Research Capital LLC TRC increased its position in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the period. Mather Group LLC. acquired a new stake in Fomento Economico Mexicano in the 3rd quarter worth about $54,000. Finally, Brown Brothers Harriman & Co. raised its stake in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Up 0.0%

Shares of Fomento Economico Mexicano stock opened at $114.80 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. 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. The company has a market capitalization of $39.67 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 0.84 and a beta of 0.40. The firm’s 50-day moving average price is $109.56 and its two-hundred day moving average price is $102.14.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Saturday, February 14th. The company reported $1.36 EPS 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, analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company 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 is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.2%. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 80.00%.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $10.31, for a total value of $539,377.96. Following the sale, the director owned 1,337,712 shares of the company’s stock, valued at approximately $13,791,810.72. This trade represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 156,948 shares of company stock worth $1,630,690 in the last three months. 5.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price 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. Barclays boosted their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, UBS Group lifted their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $110.67.

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.