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 firm’s stock in a transaction on Friday, November 6th. The stock was 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 owned 43,506 shares of the company’s stock, valued at $553,831.38. This trade represents a 23.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fomento Economico Mexicano Stock Down 1.3%

Fomento Economico Mexicano stock opened at $130.81 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.15. The business’s 50-day simple moving average is $122.74 and its two-hundred day simple moving average is $119.46. The company has a market cap of $45.20 billion, a PE ratio of 34.24, a PEG ratio of 0.71 and a beta of 0.44. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $92.55 and a fifty-two week high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. Fomento Economico Mexicano had a return on equity of 7.71% and a net margin of 3.98%. The firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.84 billion. Equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.32 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Wednesday, October 14th were issued a $1.7804 dividend. This is a drop from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. The ex-dividend date was Wednesday, October 14th. This represents a $7.12 annualized dividend and a yield of 5.4%. Fomento Economico Mexicano’s dividend payout ratio is currently 40.38%.

Institutional Trading of Fomento Economico Mexicano

Hedge funds have recently modified their holdings of the stock. Portland Global Advisors LLC raised its position in Fomento Economico Mexicano by 2.1% during the third quarter. Portland Global Advisors LLC now owns 41,368 shares of the company’s stock valued at $4,905,000 after acquiring an additional 834 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Fomento Economico Mexicano by 8.6% in the third quarter. Benjamin Edwards Inc. now owns 7,137 shares of the company’s stock valued at $846,000 after acquiring an additional 564 shares during the period. Advisors Asset Management Inc. acquired a new position in Fomento Economico Mexicano in the third quarter valued at approximately $2,552,000. Private Advisor Group LLC purchased a new stake in Fomento Economico Mexicano in the 3rd quarter worth approximately $247,000. Finally, Boston Partners boosted its position in Fomento Economico Mexicano by 60.7% in the 3rd quarter. Boston Partners now owns 18,674 shares of the company’s stock worth $2,214,000 after purchasing an additional 7,057 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

FMX has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Benchmark upgraded shares of Fomento Economico Mexicano to an “overweight” rating in a research note on Friday, October 16th. Zacks Research cut shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Barclays raised their target price on shares of Fomento Economico Mexicano from $138.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 3rd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, S.A.B. 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.