Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $119.50.

A number of analysts have recently weighed in on FMX shares. UBS Group upped their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Barclays raised their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th.

Fomento Economico Mexicano Trading Up 1.2%

Shares of FMX stock opened at $128.29 on Friday. Fomento Economico Mexicano has a fifty-two week low of $83.08 and a fifty-two week high of $141.47. The company has a 50 day moving average price of $126.35 and a 200 day moving average price of $116.99. The stock has a market capitalization of $44.33 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.14.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The company had revenue of $13.20 billion for the quarter. Equities research analysts predict that Fomento Economico Mexicano will post 6.19 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were given a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $7.31 annualized dividend and a dividend yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio is 48.60%.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMX. Contravisory Investment Management Inc. purchased a new position in Fomento Economico Mexicano in the second quarter valued at approximately $320,000. Assenagon Asset Management S.A. acquired a new stake in Fomento Economico Mexicano during the second quarter worth approximately $2,411,000. Confluence Investment Management LLC lifted its position in shares of Fomento Economico Mexicano by 9.2% during the 2nd quarter. Confluence Investment Management LLC now owns 2,979 shares of the company’s stock worth $381,000 after buying an additional 252 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Fomento Economico Mexicano by 46.3% during the 1st quarter. NewEdge Advisors LLC now owns 6,016 shares of the company’s stock worth $668,000 after buying an additional 1,905 shares during the last quarter. Finally, Summitry LLC boosted its holdings in shares of Fomento Economico Mexicano by 3.3% in the 1st quarter. Summitry LLC now owns 6,606 shares of the company’s stock valued at $734,000 after buying an additional 208 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.