Fomento Economico Mexicano (NYSE:FMX) Hits New 1-Year High – What’s Next?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $124.24 and last traded at $122.3110, with a volume of 593844 shares changing hands. The stock had previously closed at $121.29.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays upped their price target on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. UBS Group boosted their target price on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Wall Street Zen raised shares of Fomento Economico Mexicano from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Fomento Economico Mexicano Trading Up 1.2%

The firm has a market capitalization of $41.91 billion, a PE ratio of 27.14, a PEG ratio of 0.82 and a beta of 0.42. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $112.12 and its 200 day simple moving average is $105.36.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The business had revenue of $11.61 billion during the quarter. On average, sell-side analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is currently 53.47%.

Insider Buying and Selling

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the company’s stock in a transaction dated 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 owned 1,128,453 shares in the company, valued at $12,627,389.07. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 261,575 shares of company stock valued at $2,795,188 in the last three months. Corporate insiders own 5.68% of the company’s stock.

Institutional Trading of Fomento Economico Mexicano

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in Fomento Economico Mexicano in the first quarter worth about $28,000. Northwestern Mutual Wealth Management Co. increased its position in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Fomento Economico Mexicano in the fourth quarter worth about $50,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.