Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $118.00

Fomento Economico Mexicano (NYSE:FMX) had its price target upped by Barclays from $116.00 to $118.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Fomento Economico Mexicano has an average rating of “Hold” and a consensus target price of $108.83.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $108.82 on Tuesday. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $116.09. The company has a 50-day simple moving average of $107.22 and a 200 day simple moving average of $99.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The company has a market capitalization of $37.60 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 4.32 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The company had revenue of $12.21 billion during the quarter, compared to analysts’ expectations of $11.98 billion. On average, research analysts predict that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders 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 yield of 7.5%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is 80.00%.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Fomento Economico Mexicano in the fourth quarter worth $50,000. Finally, Mather Group LLC. purchased a new stake in shares of Fomento Economico Mexicano in the third quarter worth $54,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Company Profile

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.