Insider Selling: Fomento Economico Mexicano (NYSE:FMX) Director Sells $585,360.09 in Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Garza Alfonso Garza sold 52,311 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director owned 1,128,453 shares of the company’s stock, valued at approximately $12,627,389.07. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Garza Alfonso Garza also recently made the following trade(s):

• On Wednesday, March 25th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The shares were sold at an average price of $11.07, for a total transaction of $579,138.12.
• On Monday, March 23rd, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The shares were 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.
• 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 transaction of $554,549.60.

Fomento Economico Mexicano Stock Down 0.0%

Shares of FMX opened at $116.59 on Monday. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 40.91, a P/E/G ratio of 0.85 and a beta of 0.40. The company has a quick ratio of 1.02, a current ratio of 1.35 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 $118.43. The company has a 50-day moving average price of $110.42 and a two-hundred day moving average price of $102.87.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. The firm had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. Equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd will be paid a dividend of $0.6658 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 2.3%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 80.00%.

Wall Street Analyst Weigh In

FMX has been the subject of a number of analyst reports. UBS Group raised their price target on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. The Goldman Sachs Group raised their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Barclays raised their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $110.67.

Institutional Trading of Fomento Economico Mexicano

Several hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in shares of Fomento Economico Mexicano by 5.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,433 shares of the company’s stock worth $1,459,000 after buying an additional 733 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Fomento Economico Mexicano by 10,750.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,302 shares of the company’s stock worth $132,000 after buying an additional 1,290 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Fomento Economico Mexicano by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,891 shares of the company’s stock worth $494,000 after buying an additional 301 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Fomento Economico Mexicano by 92.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 762 shares of the company’s stock worth $77,000 after buying an additional 366 shares in the last quarter. Finally, MidFirst Bank acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at approximately $122,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.