Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Get Free Report) Director Michael David Kahn purchased 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Fomento Economico Mexicano Trading Up 1.4%
Shares of FMX stock opened at $118.12 on Friday. The business’s fifty day moving average price is $126.32 and its 200 day moving average price is $118.22. The firm has a market capitalization of $40.82 billion, a PE ratio of 23.62, a P/E/G ratio of 0.65 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $141.47.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The company had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%. As a group, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current fiscal year.
Fomento Economico Mexicano Increases Dividend
Analyst Upgrades and Downgrades
A number of analysts recently commented on FMX shares. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group reaffirmed a “neutral” rating and issued a $139.00 target price on shares of Fomento Economico Mexicano in a report on Thursday, August 6th. Barclays lifted their price target on shares of 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. Finally, Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Fomento Economico Mexicano has a consensus rating of “Hold” and a consensus price target of $127.12.
Institutional Investors Weigh In On Fomento Economico Mexicano
Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares during the last quarter. Invesco Ltd. raised its position in Fomento Economico Mexicano by 67.8% during the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after acquiring an additional 423,073 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at about $41,408,000. Goldman Sachs Group Inc. lifted its holdings in shares of Fomento Economico Mexicano by 253.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 567,718 shares of the company’s stock valued at $57,379,000 after purchasing an additional 407,140 shares in the last quarter. Finally, Cook & Bynum Capital Management LLC purchased a new stake in shares of Fomento Economico Mexicano in the second quarter valued at about $29,857,616,000. 61.00% of the stock is currently owned by hedge funds and other 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.
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