Garza Alfonso Garza Sells 52,316 Shares of Fomento Economico Mexicano (NYSE:FMX) Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Garza Alfonso Garza sold 52,316 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $10.60, for a total value of $554,549.60. Following the transaction, the director directly owned 1,494,660 shares in the company, valued at approximately $15,843,396. The trade was a 3.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Garza Alfonso Garza also recently made the following trade(s):

• On Monday, March 23rd, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $10.31, for a total value of $539,377.96.
• On Friday, March 20th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The shares were sold at an average price of $10.26, for a total value of $536,762.16.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX traded up $2.78 during trading hours on Wednesday, reaching $108.58. The stock had a trading volume of 303,177 shares, compared to its average volume of 392,025. The firm has a 50-day moving average of $108.57 and a 200-day moving average of $101.11. The firm has a market cap of $37.52 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 0.78 and a beta of 0.42. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $83.08 and a fifty-two week high of $116.09.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion for the quarter, compared to analyst estimates of $11.98 billion. Equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a $2.0531 dividend. This is a boost 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 7.6%. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 80.00%.

Analyst Ratings Changes

FMX has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. UBS Group upped their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, March 20th. The Goldman Sachs Group increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Barclays lifted their target price 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. 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.67.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings 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 in the last quarter. Victory Capital Management Inc. increased its holdings in Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after buying an additional 595,388 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Fomento Economico Mexicano in the third quarter valued at about $50,343,000. Invesco Ltd. lifted its position in shares of Fomento Economico Mexicano by 67.8% during the 3rd quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after acquiring an additional 423,073 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Fomento Economico Mexicano during the 4th quarter valued at approximately $41,408,000. 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.