Insider Selling: Fomento Economico Mexicano (NYSE:FMX) Director Sells 52,311 Shares of Stock

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction on Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the transaction, the director directly owned 1,128,453 shares of the company’s stock, valued at $12,627,389.07. The trade was a 4.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Garza Alfonso Garza also recently made the following trade(s):

• On Wednesday, March 25th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $11.07, for a total transaction of $579,138.12.
• On Monday, March 23rd, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The shares were 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 transaction of $554,549.60.

Fomento Economico Mexicano Price Performance

FMX stock traded up $1.07 during trading on Friday, hitting $116.35. The stock had a trading volume of 290,830 shares, compared to its average volume of 417,614. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $118.43. The stock has a market capitalization of $40.20 billion, a P/E ratio of 40.83, a PEG ratio of 0.85 and a beta of 0.40. The company’s 50-day moving average price is $110.17 and its two-hundred day moving average price is $102.66.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. The business had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. As a group, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. This represents a $2.66 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

FMX has been the topic of a number of analyst reports. Barclays lifted their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. The Goldman Sachs Group raised their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. UBS Group lifted their price target on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Fomento Economico Mexicano presently has an average rating of “Hold” and a consensus target price of $110.67.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. Nuveen LLC increased its holdings in Fomento Economico Mexicano by 2.4% in the fourth quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock valued at $389,209,000 after buying an additional 88,721 shares during the last quarter. Invesco Ltd. raised its stake in Fomento Economico Mexicano by 18.9% during the 4th quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock worth $125,814,000 after acquiring an additional 197,914 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in Fomento Economico Mexicano by 24.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after acquiring an additional 222,064 shares during the last quarter. Altrinsic Global Advisors LLC lifted its position in Fomento Economico Mexicano by 52.4% in the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after acquiring an additional 324,781 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Fomento Economico Mexicano by 21.2% in the third quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock valued at $74,780,000 after acquiring an additional 132,440 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.