Insider Selling: Fomento Economico Mexicano (NYSE:FMX) Director Sells $536,762.16 in 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 on 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 transaction, the director owned 1,390,028 shares in the company, valued at $14,261,687.28. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was sold at an average price of $10.31, for a total value 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 value of $554,549.60.

Fomento Economico Mexicano Trading Up 0.7%

NYSE:FMX opened at $107.74 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’s 50-day moving average price is $108.77 and its two-hundred day moving average price is $101.30. 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 firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 0.78 and a beta of 0.42.

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

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a dividend of $2.0531 per share. This represents a $8.21 annualized dividend and a yield of 7.6%. 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 79.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FMX shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted 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 report on Wednesday, February 11th. UBS Group boosted their price target 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. Finally, Barclays upped their price objective on shares of 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. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus price target of $110.67.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Economico Mexicano by 7.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after buying an additional 96 shares during the period. UMB Bank n.a. raised its holdings in shares of Fomento Economico Mexicano by 15.1% during the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after acquiring an additional 96 shares during the period. Tower Research Capital LLC TRC lifted its position in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares in the last quarter. Arax Advisory Partners lifted its position in Fomento Economico Mexicano by 20.1% in the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after acquiring an additional 136 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Fomento Economico Mexicano by 5.1% in the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock worth $302,000 after purchasing an additional 144 shares during the period. 61.00% of the stock is currently 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.