Insider Selling: Fomento Economico Mexicano (NYSE:FMX) Director Sells 52,311 Shares of Stock

Key Points

• Insider selling: Director Garza Alfonso Garza sold about 261,575 shares across five trades in March (including 52,311 on Mar 27), trimming his position by 4.43% and raising roughly $2.8 million in proceeds.
• Dividend announcement: FEMSA declared a quarterly dividend of $0.6658 per share (annualized $2.66) payable May 4, implying a 2.3% yield and a payout ratio around 80%.
• Stock and analyst context: FMX trades near $116.35 with a $40.2B market cap and a P/E of 40.8; analysts are mixed (three Buys, five Holds) and the consensus price target is about $110.67.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction on Friday, March 27th. The stock was sold at an average price of $11.19, for a total value of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares of the company's stock, valued at $12,627,389.07. The trade was a 4.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, March 25th, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The shares were sold at an average price of $11.07, for a total value of $579,138.12.
• On Monday, March 23rd, Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock. The stock was sold at an average price of $10.31, for a total value 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 value 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 transaction of $554,549.60.

Fomento Economico Mexicano Stock Performance

FMX traded up $1.07 during trading on Friday, hitting $116.35. The company's stock had a trading volume of 290,830 shares, compared to its average volume of 417,614. The business's 50 day simple moving average is $110.17 and its 200-day simple moving average is $102.66. The firm has a market cap of $40.20 billion, a PE ratio of 40.83, a P/E/G ratio of 0.85 and a beta of 0.40. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $118.43. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported $1.36 EPS for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion during the quarter. As a group, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 2.3%. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 80.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FMX. Northwestern Mutual Wealth Management Co. grew its stake in shares of Fomento Economico Mexicano by 2,006.3% 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 position in Fomento Economico Mexicano by 42.5% in the 2nd 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 period. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano in the fourth quarter worth approximately $50,000. Mather Group LLC. purchased a new position in shares of Fomento Economico Mexicano during the third quarter valued at $54,000. Finally, Brown Brothers Harriman & Co. increased its position 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. 61.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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