Fomento Economico Mexicano (NYSE:FMX) Reaches New 1-Year High – Here’s What Happened

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) hit a new 52-week high during trading on Friday . The stock traded as high as $118.47 and last traded at $119.03, with a volume of 13678 shares trading hands. The stock had previously closed at $116.96.

Analyst Ratings Changes

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

Fomento Economico Mexicano Stock Performance

The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $40.78 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 0.86 and a beta of 0.40. The firm’s fifty day moving average price is $111.20 and its two-hundred day moving average price is $103.32.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. The company had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. As a group, equities research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 22nd will be issued a $0.6658 dividend. This represents a $2.66 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is presently 80.00%.

Insider Buying and Selling

In related news, Director Garza Alfonso Garza sold 52,311 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $11.19, for a total value of $585,360.09. Following the completion of the sale, the director owned 1,128,453 shares of the company’s stock, valued at approximately $12,627,389.07. The trade was a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 261,575 shares of company stock valued at $2,795,188. 5.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $35,000 after acquiring an additional 321 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 worth $45,000 after acquiring an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Fomento Economico Mexicano in the 4th quarter worth $50,000. Mather Group LLC. acquired a new stake in Fomento Economico Mexicano during the 3rd quarter worth $54,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares during the last quarter. Hedge funds and other institutional investors 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.