Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $101.63 Consensus Target Price from Brokerages

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $101.6333.

A number of research firms have commented on FMX. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. JPMorgan Chase & Co. increased their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th.

Fomento Economico Mexicano Stock Down 1.5%

NYSE:FMX opened at $100.52 on Friday. Fomento Economico Mexicano has a one year low of $81.07 and a one year high of $108.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. The company has a market cap of $35.96 billion, a PE ratio of 40.53, a P/E/G ratio of 5.07 and a beta of 0.47. The firm’s 50 day simple moving average is $96.43 and its 200 day simple moving average is $95.89.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $215.60 billion. On average, research analysts anticipate that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Thursday, October 16th were given a dividend of $1.9982 per share. This represents a $7.99 dividend on an annualized basis and a yield of 8.0%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is currently 90.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Fomento Economico Mexicano during the first quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd 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. Farther Finance Advisors LLC grew its position in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Fomento Economico Mexicano in the 2nd quarter valued at $40,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. 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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.