Key Points
- Insider selling: Director Garza Alfonso Garza sold three equal blocks of 52,316 shares on March 18, 20 and 23 (totaling 156,948 shares) for about $1.63 million, and the March 20 filing showed he held 1,390,028 shares after that sale.
- Dividend boost: FEMSA raised its quarterly dividend to $2.0531 (annualized $8.21), implying a 7.6% yield and a payout ratio of about 80%.
- Earnings miss: The company reported quarterly EPS of $0.92 versus analysts' $1.50 estimate (revenue $12.21B), with a net margin of 2.29% and return on equity of 6.11%.
Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) Director Garza Alfonso Garza sold 52,316 shares of the company's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $10.26, for a total transaction of $536,762.16. Following the sale, the director directly owned 1,390,028 shares of the company's stock, valued at $14,261,687.28. The trade was a 3.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
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 transaction of $539,377.96.
- On Wednesday, March 18th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $10.60, for a total transaction of $554,549.60.
Fomento Economico Mexicano Stock Performance
FMX opened at $108.58 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $116.09. The firm has a market capitalization of $37.52 billion, a PE ratio of 38.10, a PEG ratio of 0.78 and a beta of 0.42. 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's 50-day moving average price is $108.57 and its 200 day moving average price is $101.11.
Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $12.21 billion during the quarter, compared to analyst estimates of $11.98 billion. As a group, sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.
Fomento Economico Mexicano Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were given a $2.0531 dividend. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.6%. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 80.00%.
Institutional Trading of Fomento Economico Mexicano
Several institutional investors have recently made changes to their positions in FMX. AQR Capital Management LLC lifted its holdings in Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company's stock valued at $593,000 after acquiring an additional 969 shares during the last quarter. SG Americas Securities LLC increased its stake in Fomento Economico Mexicano by 92.6% during the second quarter. SG Americas Securities LLC now owns 5,203 shares of the company's stock worth $536,000 after acquiring an additional 2,501 shares during the last quarter. MAI Capital Management increased its stake in Fomento Economico Mexicano by 131.1% during the second quarter. MAI Capital Management now owns 788 shares of the company's stock worth $81,000 after acquiring an additional 447 shares during the last quarter. American Century Companies Inc. raised its position in Fomento Economico Mexicano by 18.4% in the second quarter. American Century Companies Inc. now owns 304,917 shares of the company's stock valued at $31,400,000 after purchasing an additional 47,421 shares during the period. Finally, Coldstream Capital Management Inc. raised its position in Fomento Economico Mexicano by 548.7% in the second quarter. Coldstream Capital Management Inc. now owns 2,439 shares of the company's stock valued at $251,000 after purchasing an additional 2,063 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. UBS Group raised their target price on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Finally, Barclays lifted their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $110.67.
Read Our Latest Stock Report on FMX
About Fomento Economico Mexicano
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
