Key Points
- Director Michael David Kahn bought 2,100 FMX shares at an average price of $118.13, investing $248,073 and establishing a direct ownership position.
- FEMSA reported quarterly revenue of $13.20 billion and EPS of $0.93, while analysts hold a consensus “Hold” rating with an average price target of $127.12.
- The company increased its quarterly dividend to $1.827, equivalent to an annualized $7.31 payout and a 6.2% yield; institutional investors own approximately 61% of the stock.
Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) Director Michael David Kahn purchased 2,100 shares of Fomento Economico Mexicano stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the transaction, the director directly owned 2,100 shares of the company's stock, valued at $248,073. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Fomento Economico Mexicano Price Performance
Fomento Economico Mexicano stock opened at $117.48 on Thursday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $141.47. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The firm's fifty day moving average is $126.54 and its 200 day moving average is $118.15. The company has a market cap of $40.59 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 0.66 and a beta of 0.40.
Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The business had revenue of $13.20 billion during the quarter. Sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current fiscal year.
Fomento Economico Mexicano Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a $1.827 dividend. This represents a $7.31 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.67. Fomento Economico Mexicano's payout ratio is 48.60%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on FMX shares. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on Fomento Economico Mexicano in a research report on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fomento Economico Mexicano in a report on Friday, August 7th. Zacks Research downgraded Fomento Economico Mexicano from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Barclays increased their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Finally, Bank of America upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and raised their price target for the stock from $125.00 to $150.00 in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $127.12.
Check Out Our Latest Analysis on FMX
Hedge Funds Weigh In On Fomento Economico Mexicano
Several hedge funds have recently added to or reduced their stakes in FMX. Fundamenta Capital S.A. bought a new position in Fomento Economico Mexicano in the 4th quarter valued at $13,527,000. INCA Investments LLC lifted its position in shares of Fomento Economico Mexicano by 6.9% during the fourth quarter. INCA Investments LLC now owns 395,261 shares of the company's stock worth $39,949,000 after purchasing an additional 25,536 shares during the last quarter. Assetmark Inc. lifted its position in shares of Fomento Economico Mexicano by 61.3% during the fourth quarter. Assetmark Inc. now owns 25,592 shares of the company's stock worth $2,587,000 after purchasing an additional 9,730 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Fomento Economico Mexicano during the fourth quarter valued at $1,137,000. Finally, LBP AM SA boosted its stake in shares of Fomento Economico Mexicano by 2.1% during the fourth quarter. LBP AM SA now owns 529,380 shares of the company's stock valued at $53,504,000 after purchasing an additional 10,848 shares during the period. 61.00% of the stock is currently owned by institutional investors.
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.
See Also
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].
