Michael David Kahn Buys 2,100 Shares of Fomento Economico Mexicano (NYSE:FMX) Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Michael David Kahn acquired 2,100 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were acquired at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the transaction, the director directly owned 2,100 shares in the company, valued at approximately $248,073. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fomento Economico Mexicano Trading Down 0.9%

NYSE:FMX opened at $116.43 on Friday. The stock has a market cap of $40.23 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 0.65 and a beta of 0.40. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $83.08 and a fifty-two week high of $141.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The stock’s 50-day moving average is $126.41 and its two-hundred day moving average is $118.22.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. As a group, equities research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were paid a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 annualized dividend and a yield of 6.3%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 48.60%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Fomento Economico Mexicano during the fourth quarter worth $50,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Fomento Economico Mexicano by 220.8% during the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Fomento Economico Mexicano in a research note on Friday, August 7th. Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $150.00 in a research report on Tuesday, August 4th. Zacks Research downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a research report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $127.12.

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.