Fomento Economico Mexicano S.A.B. de C.V. to Issue Quarterly Dividend of $0.67 (NYSE:FMX)

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Tuesday, April 7th. Investors of record on Wednesday, April 22nd will be given a dividend of 0.6658 per share on Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd.

Fomento Economico Mexicano has increased its dividend payment by an average of 0.3%per year over the last three years. Fomento Economico Mexicano has a payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Economico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 42.7%.

Fomento Economico Mexicano Stock Up 0.9%

Shares of NYSE FMX opened at $116.63 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano has a 12 month low of $83.08 and a 12 month high of $118.43. The firm has a market capitalization of $40.30 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. The firm has a fifty day simple moving average of $109.99 and a two-hundred day simple moving average of $102.57.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. The company 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 expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Insider Buying and Selling at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $10.31, for a total transaction of $539,377.96. Following the completion of the sale, the director directly owned 1,337,712 shares of the company’s stock, valued at $13,791,810.72. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 156,948 shares of company stock valued at $1,630,690 over the last three months. 5.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its position in shares of Fomento Economico Mexicano by 5.4% in the 4th 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. raised its holdings in shares of Fomento Economico Mexicano by 10,750.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,302 shares of the company’s stock worth $132,000 after acquiring an additional 1,290 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Fomento Economico Mexicano by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 4,891 shares of the company’s stock valued at $494,000 after acquiring an additional 301 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Fomento Economico Mexicano by 92.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 762 shares of the company’s stock valued at $77,000 after acquiring an additional 366 shares in the last quarter. Finally, MidFirst Bank purchased a new stake in Fomento Economico Mexicano during the 4th quarter worth about $122,000. 61.00% of the stock is owned by institutional investors and hedge funds.

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.