Fomento Economico Mexicano S.A.B. de C.V. Declares Quarterly Dividend of $0.67 (NYSE:FMX)

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Tuesday, April 7th. Shareholders of record on Wednesday, April 22nd will be given a dividend of 0.6658 per share on Monday, May 4th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd.

Fomento Economico Mexicano has raised its dividend payment by an average of 0.3%annually over the last three years. Fomento Economico Mexicano has a payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fomento Economico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 42.7%.

Fomento Economico Mexicano Stock Up 0.5%

NYSE:FMX opened at $115.64 on Thursday. The firm has a market capitalization of $39.96 billion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $118.44. The stock’s 50 day moving average price is $109.99 and its two-hundred day moving average price is $102.57. 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 (NYSE:FMX) last posted its quarterly earnings results on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. The firm had revenue of $12.21 billion for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. Equities research analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,316 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $10.31, for a total transaction of $539,377.96. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 156,948 shares of company stock worth $1,630,690. 5.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FMX. AQR Capital Management LLC increased its holdings in shares of Fomento Economico Mexicano by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after acquiring an additional 969 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $429,000. Finally, Invesco Ltd. increased its holdings in shares of Fomento Economico Mexicano by 21.7% during the 2nd quarter. Invesco Ltd. now owns 623,833 shares of the company’s stock worth $64,242,000 after acquiring an additional 111,127 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.