Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages, including low-sugar or sugar-free carbonated beverages; refreshing juices, nectars, and fruit-based drinks; purified, and carbonated and flavored water; coffees, teas, and sports and energy drinks; and dairy products and products based on vegetable protein. It also operates small-box retail chain stores in Mexico, Colombia, Peru, the United States, Chile, and Brazil under the OXXO name; retail service stations for fuels, motor oils, lubricants, and car care products under the OXXO GAS name in Mexico; and drugstores in Chile, Colombia, Ecuador, and Mexico under the Cruz Verde, Fybeca, SanaSana, YZA, La Moderna, and Farmacon names. In addition, the company is involved in the production and distribution of coolers, commercial refrigeration equipment, and plastic cases; food processing, preservation, and weighing equipment; and provision of logistic transportation and maintenance, point-of-sale refrigeration, and plastics solutions, as well as distribution platform for cleaning products and consumables. As of December 31, 2020, it operated 19,566 OXXO small-format stores; 3,368 drugstores; and 558 OXXO GAS service stations. Fomento Económico Mexicano, S.A.B. de C.V. was founded in 1890 and is headquartered in Monterrey, Mexico.
IPO Year:
Exchange: NYSE
Website: femsa.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/23/2024 | $104.00 → $109.00 | Overweight → Neutral | JP Morgan |
| 2/26/2024 | Buy → Neutral | BofA Securities | |
| 2/9/2024 | $124.00 → $152.00 | Hold → Buy | HSBC Securities |
| 1/12/2024 | Buy → Neutral | UBS | |
| 12/7/2023 | Neutral | Citigroup | |
| 11/7/2023 | $127.00 | Outperform → Market Perform | Itau BBA |
| 10/30/2023 | $115.00 → $130.00 | Equal Weight → Overweight | Barclays |
| 6/7/2023 | $84.00 → $112.00 | Reduce → Hold | HSBC Securities |
| 3/3/2023 | $100.00 | Overweight → Equal Weight | Barclays |
| 5/5/2022 | $68.00 | Hold → Reduce | HSBC Securities |
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
6-K - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Filer)
SC 13G/A - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Subject)
SC 13G - MEXICAN ECONOMIC DEVELOPMENT INC (0001061736) (Subject)
An affiliate of Mill Point Capital LLC ("Mill Point Capital"), a New York City-based private equity firm, announced today the completion of its previously announced acquisition of the commercial refrigeration and foodservice equipment businesses of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) ("FEMSA"), doing business as Imbera and Torrey (collectively AeriTek Global LLC, "AeriTek" or the "Company"), in a single corporate carve-out transaction. The successful closing of this complex, cross-border corporate carve-out transaction establishes AeriTek as a standalone, leading manufacturer, designer and distributor of commercial refrigeration and foodservice equipment products. Mill Poi
MONTERREY, Mexico, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB)) announced today the successful closing of its previously disclosed divestiture on July 17, 2024, with Mill Point Capital LLC, of its refrigeration and foodservice equipment operations, Imbera and Torrey, for a total amount of $8,000 million pesos, on a cash-free, debt-free basis. About FEMSAFEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through a Proximity Ame
MONTERREY, Mexico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced it has reached a definitive agreement with AMMI, a leading holding company focused in the production of non-GMO corn and sustainable plastic packaging, affiliate of Milenio Capital, to divest FEMSA's plastics solutions operations, for a total amount of $3,165 million pesos, on a cash-free, debt-free basis. This transaction represents an additional step in the continued execution of the FEMSA Forward plan that was communicated in February of 2023. The transaction is subject to regulatory approvals and other customary cond
MONTERREY, Mexico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today its operational and financial results for the third quarter of 2024. FEMSA: Total Consolidated Revenues grew 8.3% and Income from Operations increased 14.6% compared to 3Q23.FEMSA Retail1: Proximity Americas total Revenues grew 4.8% and Income from operations increased 5.9% versus 3Q23.DIGITAL: Spin by OXXO had 8.2 million active users2 representing 28.9% growth compared to 3Q23 while Spin Premia had 23.8 million active loyalty users2 representing 34.6% growth compared to 3Q23, and an average tender3 of 38.5%.COCA-COLA FEMSA: Total R
MONTERREY, Mexico, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) is pleased to invite you to participate in its Third Quarter Conference Call that will be held on: Monday, October 28, 202410:30 AM Eastern Time(8:30 AM Mexico City Time) To participate in the conference call please dial:Toll Free US: (866) 580 3963International: +1 (786) 697 3501Conference ID: FEMSA The quarterly results will be released on October 28 before markets open. The conference call will be webcast live through streaming audio. For details, please visit http://ir.femsa.com If you are unable to participate live, the con
MONTERREY, Mexico, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced it has reached a definitive agreement with Grupo Traxión, S.A.B. de C.V (BMV:TRAXIONA), a leading transportation and logistics company based in Mexico, to divest certain of FEMSA's logistics operations doing business as Solistica. The transaction includes FEMSA's transportation management operations in Mexico, as well as its contract logistics operations in Mexico, Colombia and Brazil. The transaction does not include FEMSA's LTL (less-than-truckload) operations in Brazil. Total consideration for this transaction will be o
Delek US Holdings, Inc. (NYSE:DK) ("Delek") announced today the closing of the previously announced sale of 100% of the equity interests in the Delek subsidiaries that operate Delek's retail business ("Delek US Retail") to a subsidiary of FEMSA (NYSE:FMX) for cash consideration of approximately $385 million, including the purchase of inventories. Avigal Soreq, President, and Chief Executive Officer of Delek, said, "The completion of the sale of Delek US Retail to FEMSA is an important step in our value creation journey. We are pleased with this transaction and look forward to building upon our relationship with FEMSA in the future. I am thankful to Delek US Retail & its employees and wish
MONTERREY, Mexico, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today that it has entered into definitive agreements with Delek US Holdings, Inc. ("Delek") (NYSE:DK), to acquire Delek's retail operations, consisting of 249 convenience stores located mainly in Texas, for a total amount of US$385 million dollars on a cash-free, debt-free basis, including the purchase of inventories. Delek's Retail AssetsDelek is a downstream energy company, with a focus on petroleum refining; its retail operations are being carved out for this transaction. Operating under the DK brand, approximately
FEMSA (NYSE:FMX) and Delek US Holdings, Inc. (NYSE:DK) ("Delek") have entered into a definitive agreement, whereby a subsidiary of FEMSA will acquire 100% of the equity interests in the Delek subsidiaries that operate Delek's retail business ("Delek US Retail") for cash consideration of $385 million (the "Transaction"), including the purchase of inventories. The transaction is anticipated to close sometime late in the third quarter or in the fourth quarter 2024. Delek US Retail is a leading convenience store chain with 249 corporate stores operating primarily in the southwestern United States including locations in Texas and New Mexico. Delek operates company stores under the DK brand. FE
MONTERREY, Mexico, July 24, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today its operational and financial results for the second quarter of 2024. FEMSA: Total Consolidated Revenues grew 12.2% compared to 2Q23.FEMSA Retail1: Proximity Americas total Revenues increased 8.9% versus 2Q23.DIGITAL: Spin by OXXO had 7.9 million active users2 representing a 37.0% growth compared to 2Q23 while Spin Premia had 22.8 million active loyalty users2 representing a 44.3% growth compared to 2Q23 and an average tender3 of 36.1%.COCA-COLA FEMSA: Total volume and revenues grew 7.5% and 13.1%, respectively against 2Q23. Financia
MONTERREY, Mexico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today its operational and financial results for the third quarter of 2024. FEMSA: Total Consolidated Revenues grew 8.3% and Income from Operations increased 14.6% compared to 3Q23.FEMSA Retail1: Proximity Americas total Revenues grew 4.8% and Income from operations increased 5.9% versus 3Q23.DIGITAL: Spin by OXXO had 8.2 million active users2 representing 28.9% growth compared to 3Q23 while Spin Premia had 23.8 million active loyalty users2 representing 34.6% growth compared to 3Q23, and an average tender3 of 38.5%.COCA-COLA FEMSA: Total R
MONTERREY, Mexico, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) is pleased to invite you to participate in its Third Quarter Conference Call that will be held on: Monday, October 28, 202410:30 AM Eastern Time(8:30 AM Mexico City Time) To participate in the conference call please dial:Toll Free US: (866) 580 3963International: +1 (786) 697 3501Conference ID: FEMSA The quarterly results will be released on October 28 before markets open. The conference call will be webcast live through streaming audio. For details, please visit http://ir.femsa.com If you are unable to participate live, the con
MONTERREY, Mexico, July 24, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today its operational and financial results for the second quarter of 2024. FEMSA: Total Consolidated Revenues grew 12.2% compared to 2Q23.FEMSA Retail1: Proximity Americas total Revenues increased 8.9% versus 2Q23.DIGITAL: Spin by OXXO had 7.9 million active users2 representing a 37.0% growth compared to 2Q23 while Spin Premia had 22.8 million active loyalty users2 representing a 44.3% growth compared to 2Q23 and an average tender3 of 36.1%.COCA-COLA FEMSA: Total volume and revenues grew 7.5% and 13.1%, respectively against 2Q23. Financia
MONTERREY, Mexico, July 08, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) is pleased to invite you to participate in its Second Quarter Conference Call that will be held on: Wednesday, July 24, 202411:00 AM Eastern Time(9:00 AM Mexico City Time) To participate in the conference call please dial:Toll Free US: (866) 580 3963International: +1 (786) 697 3501Conference ID: FEMSA The quarterly results will be released on July 24 before markets open. The conference call will be webcast live through streaming audio. For details, please visit http://ir.femsa.com If you are unable to participate live, the confe
MONTERREY, Mexico, April 26, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today its operational and financial results for the first quarter of 2024. FEMSA: Total Consolidated Revenues grew 11.3% compared to 1Q23.FEMSA Retail1: Proximity Americas total Revenues increased 15.1% versus 1Q23.DIGITAL: Spin by OXXO had 7.4 million active users2 while Spin Premia had 21.7 million active loyalty users3 and an average tender3 of 35.1%.COCA-COLA FEMSA: Total volume and revenues grew 7.3% and 11.2%, respectively against 1Q23. Financial Summary for the First Quarter 2024Change vs
MONTERREY, Mexico, April 15, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) is pleased to invite you to participate in its First Quarter Conference Call that will be held on: Friday, April 26, 202411:00 AM Eastern Time(9:00 AM Mexico City Time) To participate in the conference call please dial:Toll Free US: (866) 580 3963International: +1 (786) 697 3501Conference ID: FEMSA The quarterly results will be released on April 26 before markets open. The conference call will be webcast live through streaming audio. For details, please visit http://ir.femsa.com. If you are unable to partici
MONTERREY, Mexico, March 25, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) held its Annual Shareholders' Meeting today ("the Shareholders' Meeting"), during which the shareholders approved the consolidated financial statements for the year ended December 31, 2023, the 2023 CEO's annual report and the opinion of the Board of Directors for the year 2023. The Annual Shareholders' Meeting elected the members of the board of directors and the members of each of the Audit Committee, the Corporate Practices and Nominations Committee and the Operations and Strategy Committee of the Board for 2024. In line with ou
MONTERREY, Mexico, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) announced today its operational and financial results for the fourth quarter and full year of 2023. FEMSA: Total Consolidated Revenues grew 4.6% against 4Q22.FEMSA Retail1: Proximity Americas total Revenues increased 14.2% against 4Q22.DIGITAL: Spin by OXXO had 6.9 million active users2 while Spin Premia had 19.3 million active loyalty users2 and an average tender3 of 31.0%.COCA-COLA FEMSA: Total volume and revenues grew 6.1% and 8.1%, respectively, against 4Q22. Financial Summary for the Fourth Quarter and Full Year 2023Change vs. comparable perio
MONTERREY, Mexico, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) is providing additional information regarding its future capital allocation plans. These plans have been approved by the Board of Directors of FEMSA and are an integral part of, and fully consistent with, the FEMSA Forward strategy presented in February of 2023. Our capital allocation strategy is focused on driving our long-term intrinsic per-share value. We believe we have abundant attractive capital deployment opportunities. Over the next five years we expect to invest capital in core organic growth initiatives in excess of Ps.
MONTERREY, Mexico, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))) is pleased to invite you to participate in its Fourth Quarter and Full Year 2023 Conference Call that will be held on: Friday, February 23, 202410:00 AM Eastern Time(9:00 AM Mexico City Time) To participate in the conference call please dial:Toll Free US: (866) 580 3963International: +1 (786) 697 3501Conference ID: FEMSA The quarterly results will be released on February 23 before markets open. The conference call will be webcast live through streaming audio. For details, please visit http://ir.femsa.com If you are unable to par
JP Morgan downgraded FEMSA from Overweight to Neutral and set a new price target of $109.00 from $104.00 previously
BofA Securities downgraded FEMSA from Buy to Neutral
HSBC Securities upgraded FEMSA from Hold to Buy and set a new price target of $152.00 from $124.00 previously
UBS downgraded FEMSA from Buy to Neutral
Citigroup initiated coverage of FEMSA with a rating of Neutral
Itau BBA downgraded FEMSA from Outperform to Market Perform and set a new price target of $127.00
Barclays upgraded FEMSA from Equal Weight to Overweight and set a new price target of $130.00 from $115.00 previously
HSBC Securities upgraded FEMSA from Reduce to Hold and set a new price target of $112.00 from $84.00 previously
Barclays downgraded FEMSA from Overweight to Equal Weight and set a new price target of $100.00
HSBC Securities downgraded FEMSA from Hold to Reduce and set a new price target of $68.00
Fomento Economico (NYSE:FMX) reported quarterly earnings of $1.93 per share which beat the analyst consensus estimate of $1.17 by 64.96 percent. The company reported quarterly sales of $11.539 billion which beat the analyst consensus estimate of $11.115 billion by 3.82 percent. This is a 2.93 percent increase over sales of $11.210 billion the same period last year.
Fomento Economico (NYSE:FMX) reported quarterly sales of $11.54 billion which beat the analyst consensus estimate of $11.12 billion by 3.77 percent. This is a 2.93 percent increase over sales of $11.21 billion the same period last year.
Barclays analyst Benjamin Theurer maintains Fomento Economico (NYSE:FMX) with a Overweight and lowers the price target from $160 to $145.
Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))))) announces today that it has entered into a new derivative instrument in the form of an accelerated share repurchase transaction ("ASR") to repurchase the Company's American Depositary Shares ("ADSs")1. Under the terms of this new ASR, FEMSA has agreed to repurchase up to USD $600 million of its ADSs. The total number of ADSs ultimately repurchased under this ASR will be based on the daily volume-weighted average price of the Company's ADSs during the term of the ASR and subject to certain limitations. The final settlement of the ASR is expected to be completed, at the latest, in the fo
Fomento Economico (NYSE:FMX) reported quarterly earnings of $1.40 per share which beat the analyst consensus estimate of $1.00 by 40 percent. This is a 40 percent increase over earnings of $1.00 per share from the same period last year. The company reported quarterly sales of $10.50 billion which missed the analyst consensus estimate of $10.71 billion by 1.98 percent. This is a 8.88 percent increase over sales of $9.64 billion the same period last year.
Fomento Economico's (NYSE:FMX) short percent of float has risen 8.93% since its last report. The company recently reported that it has 1.31 million shares sold short, which is 0.61% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.64 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short intere