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 stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $10.26, for a total transaction of $536,762.16. Following the completion of the transaction, the director owned 1,390,028 shares of the company’s stock, valued at approximately $14,261,687.28. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $539,377.96.
• On Wednesday, March 18th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $10.60, for a total transaction of $554,549.60.

Fomento Economico Mexicano Stock Up 2.6%

FMX traded up $2.78 during midday trading on Wednesday, reaching $108.58. The company’s stock had a trading volume of 303,177 shares, compared to its average volume of 392,025. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $83.08 and a 1 year high of $116.09. The stock’s 50-day moving average is $108.57 and its 200-day moving average is $101.11. The firm has a market capitalization 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 (NYSE:FMX) last released its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) 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 business had revenue of $12.21 billion for the quarter, compared to analysts’ expectations of $11.98 billion. As a group, research 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 paid a dividend of $2.0531 per share. The ex-dividend date was Friday, January 16th. This is a positive change 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%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 80.00%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. EverSource Wealth Advisors LLC boosted its stake in Fomento Economico Mexicano by 7.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after purchasing an additional 96 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares in the last quarter. Arax Advisory Partners boosted its position in shares of Fomento Economico Mexicano by 20.1% during the fourth quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after buying an additional 136 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Fomento Economico Mexicano by 5.1% during the fourth quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after buying an additional 144 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.