Garza Alfonso Garza Sells 52,316 Shares of Fomento Economico Mexicano (NYSE:FMX) Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $10.60, for a total value of $554,549.60. Following the completion of the transaction, the director directly owned 1,494,660 shares in the company, valued at $15,843,396. This represents a 3.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 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 transaction of $536,762.16.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $106.90 on Friday. The company has a 50-day moving average of $108.65 and a two-hundred day moving average of $101.15. The stock has a market cap of $36.94 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 0.80 and a beta of 0.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $116.09.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly 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 net margin of 2.29% and a return on equity of 6.11%. The firm had revenue of $12.21 billion for the quarter, compared to analyst estimates of $11.98 billion. On average, equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were issued a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This is an increase 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 7.7%. Fomento Economico Mexicano’s dividend payout ratio is currently 80.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on FMX. Barclays upped their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. The Goldman Sachs Group boosted their price target 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 reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, UBS Group increased their price target on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a report on Friday, March 20th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $110.67.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its stake in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fomento Economico Mexicano in the 2nd quarter valued at $40,000. Tower Research Capital LLC TRC grew 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 worth $45,000 after purchasing an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Fomento Economico Mexicano in the 4th quarter worth about $50,000. Finally, Mather Group LLC. acquired a new stake in shares of Fomento Economico Mexicano during the 3rd quarter worth about $54,000. Institutional investors own 61.00% of the company’s stock.

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.