Fomento Economico Mexicano (NYSE:FMX) Director Michael David Kahn Purchases 2,100 Shares

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Director Michael David Kahn acquired 2,100 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $118.13 per share, with a total value 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock traded down $0.75 during trading on Wednesday, reaching $117.48. 479,280 shares of the company’s stock were exchanged, compared to its average volume of 510,735. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $40.59 billion, a PE ratio of 23.50, a PEG ratio of 0.66 and a beta of 0.40. 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 firm’s fifty day moving average price is $126.54 and its 200-day moving average price is $118.15.

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

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a dividend yield of 6.2%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio is 48.60%.

Analyst Ratings Changes

A number of research analysts recently commented on FMX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Fomento Economico Mexicano in a research note on Friday, August 7th. Zacks Research downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group restated a “neutral” rating and set a $139.00 price objective on shares of Fomento Economico Mexicano in a report on Thursday, August 6th. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the company from $125.00 to $150.00 in a research report on Tuesday, August 4th. Finally, Barclays increased their target price on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $127.12.

Hedge Funds Weigh In On Fomento Economico Mexicano

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Fomento Economico Mexicano in the 1st quarter worth about $28,000. Northwestern Mutual Wealth Management Co. grew its position in Fomento Economico Mexicano by 2,006.2% during 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 grew its position in Fomento Economico Mexicano by 42.5% during 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. bought a new position in Fomento Economico Mexicano during the 4th quarter worth $50,000. Finally, Brown Brothers Harriman & Co. increased 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 worth $72,000 after acquiring an additional 499 shares during the period. 61.00% of the stock is owned by institutional investors.

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.