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 firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $10.26, for a total value of $536,762.16. Following the completion of the sale, the director directly owned 1,390,028 shares of the company’s stock, valued at approximately $14,261,687.28. This represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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 shares were sold at an average price of $10.31, for a total transaction of $539,377.96.
• 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 Performance

Shares of Fomento Economico Mexicano stock opened at $106.90 on Friday. The company has a 50 day moving average price of $108.65 and a 200 day moving average price of $101.15. The firm has a market capitalization of $36.94 billion, a P/E ratio of 37.51, a PEG ratio of 0.80 and a beta of 0.42. 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 52 week low of $83.08 and a 52 week high of $116.09.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results 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 return on equity of 6.11% and a net margin of 2.29%.The company had revenue of $12.21 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio is presently 80.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its stake in shares of Fomento Economico Mexicano by 42.5% during 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 period. Atlas Capital Advisors Inc. purchased a new position in shares of Fomento Economico Mexicano during the 4th quarter valued at approximately $50,000. Finally, Mather Group LLC. purchased a new position in shares of Fomento Economico Mexicano during the 3rd quarter valued at approximately $54,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FMX has been the topic of several research reports. Barclays increased 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 report on Tuesday, March 3rd. UBS Group upped their price objective 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.67.

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.