Fomento Economico Mexicano (NYSE:FMX) Director 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 stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $11.07, for a total transaction of $579,138.12. Following the completion of the sale, the director owned 1,233,080 shares in the company, valued at $13,650,195.60. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, March 27th, Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09.
• 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.
• 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 Trading Up 0.9%

Shares of Fomento Economico Mexicano stock traded up $1.07 on Friday, hitting $116.35. The stock had a trading volume of 290,830 shares, compared to its average volume of 417,614. 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 S.A.B. de C.V. has a one year low of $83.08 and a one year high of $118.43. The stock’s 50-day simple moving average is $110.17 and its two-hundred day simple moving average is $102.66. The stock has a market cap of $40.20 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 0.85 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. The company had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. As a group, sell-side analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is currently 80.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Nuveen LLC grew its holdings in Fomento Economico Mexicano by 2.4% in the fourth quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock worth $389,209,000 after purchasing an additional 88,721 shares during the period. Invesco Ltd. lifted its holdings in shares of Fomento Economico Mexicano by 18.9% during the fourth quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock valued at $125,814,000 after purchasing an additional 197,914 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after purchasing an additional 222,064 shares during the last quarter. Altrinsic Global Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 52.4% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock worth $97,298,000 after purchasing an additional 324,781 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Fomento Economico Mexicano by 21.2% in the 3rd quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock worth $74,780,000 after buying an additional 132,440 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. UBS Group boosted their price target 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. The Goldman Sachs Group raised their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $110.67.

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.