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 the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $10.31, for a total value of $539,377.96. Following the transaction, the director owned 1,337,712 shares in the company, valued at $13,791,810.72. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 shares were sold at an average price of $10.60, for a total transaction of $554,549.60.

Fomento Economico Mexicano Stock Down 1.5%

FMX stock opened at $106.90 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $116.09. The business has a fifty day moving average price of $108.65 and a 200-day moving average price of $101.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. The stock has a market capitalization of $36.94 billion, a P/E ratio of 37.51, a P/E/G ratio of 0.80 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $12.21 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Equities analysts forecast 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were issued a dividend of $2.0531 per share. This represents a $8.21 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group upped 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. Barclays raised their target price on 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. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $110.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position 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 valued at $35,000 after purchasing an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Fomento Economico Mexicano during the second quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Fomento Economico Mexicano during the fourth quarter valued at approximately $50,000. Finally, Mather Group LLC. bought a new stake in shares of Fomento Economico Mexicano in the 3rd quarter valued at approximately $54,000. 61.00% of the stock is currently owned by institutional investors.

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.