Fomento Economico Mexicano (NYSE:FMX) Stock: Insider Ortiz Alejandro Gil Sells 13,000 Shares

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) General Counsel Ortiz Alejandro Gil sold 13,000 shares of Fomento Economico Mexicano stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $12.73, for a total transaction of $165,490.00. Following the transaction, the general counsel owned 43,506 shares of the company’s stock, valued at $553,831.38. The trade was a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $132.49 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $122.56 and its 200-day moving average price is $119.34. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $92.55 and a 52 week high of $141.47. The stock has a market cap of $45.78 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.71 and a beta of 0.44.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.10 earnings per share 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 company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.84 billion. Equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

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

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently bought and sold shares of FMX. Allianz Asset Management GmbH purchased a new stake in shares of Fomento Economico Mexicano during the 2nd quarter valued at about $1,210,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Fomento Economico Mexicano by 14.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,379,331 shares of the company’s stock worth $282,093,000 after acquiring an additional 292,659 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Fomento Economico Mexicano by 367.3% in the third quarter. Assenagon Asset Management S.A. now owns 88,097 shares of the company’s stock worth $10,445,000 after acquiring an additional 69,245 shares during the period. Ninety One UK Ltd grew its stake in shares of Fomento Economico Mexicano by 75.2% in the third quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock worth $100,162,000 after acquiring an additional 362,738 shares during the period. Finally, Madison Asset Management LLC purchased a new position in shares of Fomento Economico Mexicano during the second quarter valued at approximately $1,727,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FMX. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price objective for the company from $125.00 to $150.00 in a research report on Tuesday, August 4th. Deutsche Bank set a $150.00 target price on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. 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. UBS Group upped their target price on shares of Fomento Economico Mexicano from $130.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Finally, Zacks Research cut shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.17.

About Fomento Economico Mexicano

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.