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

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $108.50.

Several research firms have commented on FMX. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays upped their price objective on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group raised their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors have recently modified their holdings of FMX. Nuveen LLC boosted its holdings in shares of Fomento Economico Mexicano by 2.4% during the 4th quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock worth $389,209,000 after buying an additional 88,721 shares during the period. Citigroup Inc. raised its holdings in Fomento Economico Mexicano by 309.6% in the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after acquiring an additional 1,296,194 shares during the period. Invesco Ltd. lifted its position in Fomento Economico Mexicano by 18.9% during the 4th quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock worth $125,814,000 after acquiring an additional 197,914 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after acquiring an additional 222,064 shares during the period. Finally, Altrinsic Global Advisors LLC grew its position in shares of Fomento Economico Mexicano by 52.4% in the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after purchasing an additional 324,781 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Shares of FMX stock opened at $112.38 on Thursday. Fomento Economico Mexicano has a fifty-two week low of $83.08 and a fifty-two week high of $116.09. The stock’s 50-day moving average is $106.78 and its two-hundred day moving average is $98.70. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39.

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

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued a $2.0531 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 7.3%. Fomento Economico Mexicano’s dividend payout ratio is presently 80.00%.

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.