Fomento Economico Mexicano (NYSE:FMX) Director Garza Alfonso Garza Sells 52,316 Shares

Key Points

• Director Garza Alfonso Garza sold a total of 261,575 shares of FMX across five trades in March for roughly $2.8 million, leaving him with about 1,233,080 shares still owned.
• FEMSA announced a quarterly dividend of $0.6658 per share (annualized $2.66), with an ex-dividend/record date of April 22 and payment on May 4, implying a ~2.3% yield and an 80% payout ratio.
• Analysts are mixed with a consensus "Hold"—three Buy vs. five Hold ratings—though firms like Goldman Sachs and UBS recently raised price targets; the average target is $110.67 versus the stock trading near $116.35.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) Director Garza Alfonso Garza sold 52,316 shares of the business's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total transaction of $579,138.12. Following the transaction, the director owned 1,233,080 shares in the company, valued at $13,650,195.60. The trade was a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 27th, Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09.
• 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 transaction 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 transaction of $536,762.16.
• 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 value of $554,549.60.

Fomento Economico Mexicano Stock Up 0.9%

Fomento Economico Mexicano stock traded up $1.07 during midday trading on Friday, reaching $116.35. The stock had a trading volume of 290,830 shares, compared to its average volume of 417,614. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $118.43. The company 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 has a fifty day moving average price of $110.17 and a two-hundred day moving average price of $102.66. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

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

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Fomento Economico Mexicano by 11,692.3% during the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock worth $73,171,000 after purchasing an additional 709,957 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Fomento Economico Mexicano by 12,960.1% during the 3rd quarter. Victory Capital Management Inc. now owns 599,982 shares of the company's stock valued at $59,176,000 after buying an additional 595,388 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Fomento Economico Mexicano during the third quarter valued at about $50,343,000. Invesco Ltd. lifted its holdings in shares of Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company's stock worth $103,256,000 after buying an additional 423,073 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Fomento Economico Mexicano in the fourth quarter worth about $41,408,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FMX. The Goldman Sachs Group lifted their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. UBS Group raised their target price on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a report on Friday, March 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Barclays increased their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus 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.

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