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 company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $10.60, for a total transaction of $554,549.60. Following the completion of the transaction, the director owned 1,494,660 shares of the company’s stock, valued at $15,843,396. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 transaction of $536,762.16.

Fomento Economico Mexicano Trading Up 2.6%

FMX opened at $108.58 on Thursday. The stock has a market capitalization 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. 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 S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $116.09. The firm’s fifty day simple moving average is $108.57 and its 200 day simple moving average is $101.11.

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 analysts’ consensus estimates of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion for the quarter, compared to the consensus estimate of $11.98 billion. As a group, research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued a dividend of $2.0531 per share. The ex-dividend date was Friday, January 16th. This is a boost 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%. Fomento Economico Mexicano’s dividend payout ratio is 80.00%.

Institutional Trading of Fomento Economico Mexicano

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in Fomento Economico Mexicano by 7.8% in the fourth 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 in the last quarter. UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 15.1% during 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the last quarter. Arax Advisory Partners boosted its holdings in shares of Fomento Economico Mexicano by 20.1% in the 4th 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 grew its stake in shares of Fomento Economico Mexicano by 5.1% in 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 in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Barclays boosted their price objective 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. Finally, UBS Group increased their target price 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. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and a consensus target price 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.