Fomento Economico Mexicano (NYSE:FMX) Director Sells $539,377.96 in 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 Monday, March 23rd. The shares were sold at an average price of $10.31, for a total value of $539,377.96. Following the transaction, the director owned 1,337,712 shares in the company, valued at approximately $13,791,810.72. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was 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 stock was sold at an average price of $10.60, for a total value of $554,549.60.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $107.74 on Friday. The business’s 50-day simple moving average is $108.77 and its 200-day simple moving average is $101.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $116.09. The firm has a market cap of $37.23 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 0.78 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last posted its 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 during the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. As a group, equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were given a $2.0531 dividend. 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 dividend yield of 7.6%. The ex-dividend date of this dividend was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is 79.65%.

Institutional Investors Weigh In On Fomento Economico Mexicano

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in Fomento Economico Mexicano by 7.8% in 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 period. UMB Bank n.a. grew its position in Fomento Economico Mexicano by 15.1% in the 4th 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 increased its holdings in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the period. Arax Advisory Partners increased its holdings in shares of Fomento Economico Mexicano by 20.1% during the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock worth $82,000 after purchasing an additional 136 shares during the period. Finally, Signaturefd LLC raised 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

FMX has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Barclays boosted 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 research report on Tuesday, March 3rd. The Goldman Sachs Group upped their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company 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. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano has an average rating of “Hold” and an average target price 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.