Analysts Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) PT at $102.40

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $102.40.

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays cut their target price on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMX. AQR Capital Management LLC grew its stake in Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after acquiring an additional 969 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Fomento Economico Mexicano in the 2nd quarter worth $263,000. Farther Finance Advisors LLC grew its position in Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares during the period. Matthews International Capital Management LLC bought a new stake in Fomento Economico Mexicano during the 2nd quarter valued at $3,468,000. Finally, DAVENPORT & Co LLC raised its holdings in Fomento Economico Mexicano by 6.6% during the second quarter. DAVENPORT & Co LLC now owns 23,204 shares of the company’s stock worth $2,390,000 after buying an additional 1,431 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Up 3.1%

FMX stock opened at $108.27 on Friday. 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 stock has a 50-day moving average price of $102.37 and a 200-day moving average price of $95.87. Fomento Economico Mexicano has a 1-year low of $83.08 and a 1-year high of $108.97.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were paid a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.6%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 91.94%.

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.