Fomento Economico Mexicano (NYSE:FMX) General Counsel Sells $165,490.00 in Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) General Counsel Ortiz Alejandro Gil sold 13,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $12.73, for a total value of $165,490.00. Following the completion of the transaction, the general counsel directly owned 43,506 shares in the company, valued at $553,831.38. This represents a 23.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock traded down $0.63 during trading hours on Tuesday, hitting $130.64. The company’s stock had a trading volume of 220,725 shares, compared to its average volume of 493,076. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $92.55 and a 12-month high of $141.47. The company has a current ratio of 1.15, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock has a market cap of $45.14 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 0.70 and a beta of 0.44. The company has a 50 day moving average of $122.07 and a 200 day moving average of $119.08.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Wednesday, October 28th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. The business had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.84 billion. Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.71%. On average, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th were paid a $1.7804 dividend. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $7.12 dividend on an annualized basis and a yield of 5.5%. Fomento Economico Mexicano’s dividend payout ratio is 40.38%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FMX shares. Barclays upped their price objective on Fomento Economico Mexicano from $138.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. UBS Group raised their price objective on shares of Fomento Economico Mexicano from $130.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Zacks Research lowered Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Benchmark raised Fomento Economico Mexicano to an “overweight” rating in a report on Friday, October 16th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in shares of Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after acquiring an additional 193,432 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Fomento Economico Mexicano by 14.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,379,331 shares of the company’s stock valued at $282,093,000 after purchasing an additional 292,659 shares during the period. Ninety One UK Ltd grew its holdings in Fomento Economico Mexicano by 75.2% during the 3rd quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock valued at $100,162,000 after purchasing an additional 362,738 shares in the last quarter. Amundi boosted its stake in shares of Fomento Economico Mexicano by 9.8% during the 1st quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after buying an additional 54,786 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Fomento Economico Mexicano by 55.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 238,201 shares of the company’s stock worth $28,475,000 after buying an additional 84,784 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican company with businesses in beverage production and retail. Its Coca-Cola FEMSA subsidiary produces, markets and distributes Coca-Cola products under franchise agreements, serving customers in Mexico and other Latin American markets.

FEMSA also operates OXXO convenience stores and other retail businesses across Latin America. Its activities include pharmacy and fuel retailing, as well as digital and financial services through platforms such as Spin by OXXO.

The company traces its origins to 1890, when Cervecería Cuauhtémoc was founded in Monterrey, Mexico.