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

Key Points

• Fomento Economico Mexicano reached a new 52-week high, trading as high as $118.47 and last at $119.03; the company has a market cap of $40.78 billion and a P/E of 41.39.
• Several analysts raised targets (Goldman Sachs to $128, UBS to $122), but the stock's consensus rating is Hold with a consensus price target of $110.67, below the current share price.
• The firm declared a quarterly dividend of $0.6658 (annualized $2.66, yield 2.3%, ex-dividend April 22) while insiders have been net sellers—one director sold 52,311 shares and insiders sold 261,575 shares in the last 90 days.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $118.47 and last traded at $119.03, with a volume of 13678 shares changing hands. The stock had previously closed at $116.96.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays raised their price target 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. The Goldman Sachs Group raised their price target 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. UBS Group raised their price target 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. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $110.67.

Fomento Economico Mexicano Stock Up 0.9%

The business's 50 day moving average is $111.20 and its 200 day moving average is $103.32. The company has a market capitalization of $40.78 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 0.86 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its 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%. Sell-side analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd will be paid a dividend of $0.6658 per share. This represents a $2.66 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano's payout ratio is presently 80.00%.

Insider Buying and Selling

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares in the company, 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 SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 261,575 shares of company stock worth $2,795,188. Insiders own 5.68% of the company's stock.

Institutional Trading of Fomento Economico Mexicano

Several institutional investors and hedge funds have recently bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. lifted its stake in Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after acquiring an additional 321 shares during the period. Tower Research Capital LLC TRC lifted its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock valued at $45,000 after acquiring an additional 131 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Fomento Economico Mexicano during the 4th quarter valued at approximately $50,000. Mather Group LLC. acquired a new stake in Fomento Economico Mexicano during the 3rd quarter valued at approximately $54,000. Finally, Brown Brothers Harriman & Co. lifted 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 valued at $72,000 after acquiring an additional 499 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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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