Key Points
- Insider sales: Director Garza Alfonso Garza sold multiple blocks of FMX shares in March — about 261,575 shares for roughly $2.8 million in total — cutting his stake to 1,233,080 shares, a roughly 4% ownership decrease.
- Dividend and analyst outlook: FEMSA declared a quarterly dividend of $0.6658 (annualized $2.66, yield ~2.3%, payout ratio 80%), while analysts maintain a consensus Hold rating with a $110.67 average price target amid recent price-target upgrades from some firms.
Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $11.07, for a total value of $579,138.12. Following the completion of the transaction, the director directly owned 1,233,080 shares in the company, valued at approximately $13,650,195.60. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Garza Alfonso Garza also recently made the following trade(s):
- On Friday, March 27th, Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $11.19, for a total value of $585,360.09.
- 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 Friday, March 20th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $10.26, for a total value of $536,762.16.
- 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 value of $554,549.60.
Fomento Economico Mexicano Stock Performance
Shares of NYSE FMX opened at $116.59 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. The business's 50 day moving average is $110.42 and its two-hundred day moving average is $102.80. The company has a market cap of $40.29 billion, a P/E ratio of 40.91, a P/E/G ratio of 0.84 and a beta of 0.40. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $118.43.
Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. The business 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 EPS for the current year.
Fomento Economico Mexicano Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.6658 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.3%. Fomento Economico Mexicano's payout ratio is currently 80.00%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on FMX. Barclays boosted their price objective on 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. UBS Group boosted their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a research report on Friday, March 20th. The Goldman Sachs Group boosted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of "Hold" and a consensus price target of $110.67.
Read Our Latest Stock Report on Fomento Economico Mexicano
Institutional Trading of Fomento Economico Mexicano
Institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after buying an additional 321 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Fomento Economico Mexicano in the 4th quarter valued at $50,000. Mather Group LLC. acquired a new stake in Fomento Economico Mexicano in the 3rd quarter valued at $54,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company's stock valued at $72,000 after buying an additional 499 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.
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.
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