Fomento Economico Mexicano (NYSE:FMX) Sets New 12-Month High – Here’s What Happened

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $118.47 and last traded at $119.03, with a volume of 13678 shares changing hands. The stock had previously closed at $116.96.

Analysts Set New Price Targets

A number of brokerages have recently commented on FMX. Barclays increased their price objective 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 increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, UBS Group increased their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Three equities research 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.com, the company has an average rating of “Hold” and a consensus target price of $110.67.

Fomento Economico Mexicano Price Performance

The business has a 50-day moving average price of $111.35 and a 200 day moving average price of $103.48. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The company has a market cap of $40.68 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 0.86 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. 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. As a group, research analysts expect 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 Cuts Dividend

The company also recently announced 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. This represents a $2.66 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is 80.00%.

Insider Transactions at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the sale, the director directly owned 1,128,453 shares of the company’s stock, valued at $12,627,389.07. The trade was a 4.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 261,575 shares of company stock worth $2,795,188. 5.68% of the stock is owned by insiders.

Institutional Trading of Fomento Economico Mexicano

Several large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Fomento Economico Mexicano by 7.8% during the 4th 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 during the period. UMB Bank n.a. raised its stake in Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after purchasing an additional 96 shares during the period. Tower Research Capital LLC TRC raised its stake in Fomento Economico Mexicano by 42.5% during the 2nd 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 during the period. Arax Advisory Partners raised its stake in Fomento Economico Mexicano by 20.1% during the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after purchasing an additional 136 shares during the period. Finally, Signaturefd LLC raised its stake in Fomento Economico Mexicano by 5.1% during the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after purchasing an additional 144 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

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.