Crossmark Global Holdings Inc. Sells 13,120 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Crossmark Global Holdings Inc. cut its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 32.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,608 shares of the company’s stock after selling 13,120 shares during the period. Crossmark Global Holdings Inc.’s holdings in Fomento Economico Mexicano were worth $2,723,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Fomento Economico Mexicano in the 2nd quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its position 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. Mather Group LLC. bought a new stake in shares of Fomento Economico Mexicano during the third quarter valued at approximately $54,000. Finally, MAI Capital Management grew 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 purchasing an additional 447 shares during the period. 61.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FMX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. The Goldman Sachs Group boosted their target price 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, Barclays upped 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. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $108.83.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock opened at $109.55 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $116.09. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $37.85 billion, a P/E ratio of 38.44, a PEG ratio of 4.25 and a beta of 0.42. The stock’s 50 day moving average is $107.34 and its 200 day moving average is $99.30.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts predict 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 business 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. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.5%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s payout ratio is presently 80.00%.

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.