Cook & Bynum Capital Management LLC Purchases New Shares in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Cook & Bynum Capital Management LLC acquired a new position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 233,445 shares of the company’s stock, valued at approximately $29,857,616,000. Fomento Economico Mexicano accounts for 22.2% of Cook & Bynum Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Cook & Bynum Capital Management LLC owned about 0.07% of Fomento Economico Mexicano at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FMX. V Square Quantitative Management LLC acquired a new position in Fomento Economico Mexicano during the first quarter valued at $28,000. Northwestern Mutual Wealth Management Co. lifted its position in Fomento Economico Mexicano by 2,006.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Fomento Economico Mexicano by 42.5% in 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 last quarter. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano in the fourth quarter valued at about $50,000. Finally, Brown Brothers Harriman & Co. increased its position 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 during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Activity

In related news, Director Michael David Kahn bought 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the transaction, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.68% of the company’s stock.

Fomento Economico Mexicano Stock Performance

FMX opened at $123.61 on Wednesday. The stock has a market cap of $42.71 billion, a PE ratio of 24.72, a P/E/G ratio of 0.68 and a beta of 0.40. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.33 and a 1 year high of $141.47. The stock’s 50 day simple moving average is $125.48 and its 200-day simple moving average is $118.94. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The firm had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. Sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 annualized dividend and a dividend yield of 5.9%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio is currently 48.60%.

Analysts Set New Price Targets

FMX has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and issued a $139.00 price target on shares of Fomento Economico Mexicano in a research note on Thursday, August 6th. Weiss Ratings cut shares of Fomento Economico Mexicano from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Zacks Research cut Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the company from $125.00 to $150.00 in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.43.

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.