Insider Selling: Fomento Economico Mexicano (NYSE:FMX) Director Sells 52,316 Shares of Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction on Friday, March 20th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $10.60, for a total transaction of $554,549.60.

Fomento Economico Mexicano Trading Up 2.6%

Shares of NYSE:FMX traded up $2.78 during midday trading on Wednesday, hitting $108.58. 303,177 shares of the stock traded hands, compared to its average volume of 392,025. 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 $108.57 and its two-hundred day moving average is $101.11. The stock has a market capitalization of $37.52 billion, a PE ratio of 38.10, a P/E/G ratio of 0.78 and a beta of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $116.09.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The business had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. As a group, research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were given a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.6%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is 80.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Fomento Economico Mexicano in the second quarter worth $40,000. Tower Research Capital LLC TRC raised its holdings in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano during the fourth quarter valued at $50,000. Finally, Mather Group LLC. purchased a new position in Fomento Economico Mexicano during the third quarter valued at $54,000. 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. Barclays upped their target price on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. UBS Group boosted their price objective on shares of 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 upped their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.67.

About Fomento Economico Mexicano

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.