Fomento Economico Mexicano (NYSE:FMX) Director Purchases $248,073.00 in Stock

Key Points

• Director Michael David Kahn purchased 2,100 FMX shares at an average price of $118.13, representing a $248,073 investment and giving him a new 2,100-share position.
• FMX shares fell 0.6% to $117.48, while the company reported quarterly EPS of $0.93 on $13.20 billion in revenue. Analysts expect full-year EPS of approximately $6.09.
• FEMSA increased its quarterly dividend to $1.827 per share, equivalent to an annualized $7.31 dividend and a 6.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $127.12.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) Director Michael David Kahn purchased 2,100 shares of Fomento Economico Mexicano stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the transaction, the director owned 2,100 shares of the company's stock, valued at approximately $248,073. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Fomento Economico Mexicano Trading Down 0.6%

Shares of FMX stock traded down $0.75 on Wednesday, hitting $117.48. The stock had a trading volume of 479,280 shares, compared to its average volume of 510,735. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $141.47. The company has a fifty day moving average price of $126.54 and a two-hundred day moving average price of $118.15. The firm has a market cap of $40.59 billion, a P/E ratio of 23.50, a PEG ratio of 0.66 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%. As a group, analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared 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 is an increase from Fomento Economico Mexicano's previous quarterly dividend of $0.67. 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. Fomento Economico Mexicano's payout ratio is 48.60%.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of large investors have recently bought and sold shares of the company. Fundamenta Capital S.A. acquired a new position in Fomento Economico Mexicano during the fourth quarter worth $13,527,000. INCA Investments LLC increased its stake in shares of Fomento Economico Mexicano by 6.9% during the 4th quarter. INCA Investments LLC now owns 395,261 shares of the company's stock worth $39,949,000 after purchasing an additional 25,536 shares during the last quarter. Assetmark Inc. increased its stake in shares of Fomento Economico Mexicano by 61.3% during the 4th quarter. Assetmark Inc. now owns 25,592 shares of the company's stock worth $2,587,000 after purchasing an additional 9,730 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Fomento Economico Mexicano in the 4th quarter valued at about $1,137,000. Finally, LBP AM SA lifted its stake in Fomento Economico Mexicano by 2.1% in the 4th quarter. LBP AM SA now owns 529,380 shares of the company's stock valued at $53,504,000 after purchasing an additional 10,848 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FMX. Barclays boosted their price objective on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Fomento Economico Mexicano in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. Finally, Zacks Research cut shares of Fomento Economico Mexicano from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Four 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 currently has a consensus rating of "Hold" and an average 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.

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