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

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Garza Alfonso Garza sold 52,316 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 1,337,712 shares of the company’s stock, valued at $13,791,810.72. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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.
• On Wednesday, March 18th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The shares were sold at an average price of $10.60, for a total value of $554,549.60.

Fomento Economico Mexicano Stock Up 2.6%

FMX opened at $108.58 on Thursday. 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 current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $108.57 and its 200-day moving average price is $101.11. The company has a market cap of $37.52 billion, a P/E ratio of 38.10, a P/E/G ratio of 0.78 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.58). 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 for the quarter, compared to analysts’ expectations of $11.98 billion. On average, equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on FMX shares. Barclays raised their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. The Goldman Sachs Group increased their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Fomento Economico Mexicano currently has a consensus rating of “Hold” and a consensus price target of $110.67.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Fomento Economico Mexicano by 19.0% during the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after buying an additional 969 shares during the period. SG Americas Securities LLC raised its holdings in shares of Fomento Economico Mexicano by 92.6% during the second quarter. SG Americas Securities LLC now owns 5,203 shares of the company’s stock valued at $536,000 after acquiring an additional 2,501 shares in the last quarter. MAI Capital Management lifted its stake in Fomento Economico Mexicano by 131.1% in the second quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after acquiring an additional 447 shares during the period. American Century Companies Inc. lifted its stake in Fomento Economico Mexicano by 18.4% in the second quarter. American Century Companies Inc. now owns 304,917 shares of the company’s stock worth $31,400,000 after acquiring an additional 47,421 shares during the period. Finally, Coldstream Capital Management Inc. boosted its holdings in Fomento Economico Mexicano by 548.7% in the second quarter. Coldstream Capital Management Inc. now owns 2,439 shares of the company’s stock valued at $251,000 after acquiring an additional 2,063 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.