Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Stock Has Average Price Target of $135.67 According to Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $135.67.

A number of brokerages have issued reports on FMX. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $150.00 in a research report on Tuesday, August 4th. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. UBS Group dropped their target price on shares of Fomento Economico Mexicano from $139.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. JPMorgan Chase & Co. lifted their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a research note on Tuesday, August 4th.

Insider Activity

In other Fomento Economico Mexicano news, Director Michael David Kahn bought 2,100 shares of the stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the purchase, the director directly owned 2,100 shares of the company’s stock, valued at approximately $248,073. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Fomento Economico Mexicano

Large investors have recently added to or reduced their stakes in the stock. Cook & Bynum Capital Management LLC purchased a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $29,857,616. Royal Bank of Canada lifted its stake in Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after purchasing an additional 193,432 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Fomento Economico Mexicano in the second quarter valued at approximately $18,937,000. USS Investment Management Ltd lifted its stake in Fomento Economico Mexicano by 44.9% in the first quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock valued at $51,386,000 after purchasing an additional 143,430 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Fomento Economico Mexicano by 3,193.0% during the first quarter. Janney Montgomery Scott LLC now owns 78,605 shares of the company’s stock valued at $8,730,000 after purchasing an additional 76,218 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $119.17 on Friday. Fomento Economico Mexicano has a 1 year low of $90.87 and a 1 year high of $141.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market cap of $41.18 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 0.64 and a beta of 0.41. The company has a fifty day moving average price of $119.72 and a 200-day moving average price of $121.08.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. The company had revenue of $13.20 billion during the quarter. As a group, equities research analysts predict that Fomento Economico Mexicano will post 6.35 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Wednesday, October 14th will be given a dividend of $1.7804 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. This represents a $7.12 dividend on an annualized basis and a dividend yield of 6.0%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 48.60%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.