Fomento Economico Mexicano (NYSE:FMX) Director Michael David Kahn Acquires 2,100 Shares

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Michael David Kahn acquired 2,100 shares of Fomento Economico Mexicano stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at $248,073. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock opened at $117.48 on Thursday. The stock has a market cap of $40.59 billion, a P/E ratio of 23.50, a P/E/G ratio of 0.66 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The stock’s fifty day moving average is $126.54 and its 200 day moving average is $118.15. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%. Sell-side analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were given a dividend of $1.827 per share. 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 an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s payout ratio is presently 48.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Fomento Economico Mexicano in the first quarter worth about $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano during the 4th quarter valued at approximately $50,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Fomento Economico Mexicano in a research note on Friday, August 7th. UBS Group reaffirmed a “neutral” rating and issued a $139.00 target price on shares of Fomento Economico Mexicano in a report on Thursday, August 6th. Finally, Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price target for the company from $125.00 to $150.00 in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fomento Economico Mexicano presently has an average rating of “Hold” and a consensus target price of $127.12.

Fomento Economico Mexicano Company Profile

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.