Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Consensus Recommendation of “Hold” by Analysts

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $106.70.

A number of analysts have weighed in on the company. UBS Group increased their price target on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Barclays raised their price objective on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Itau BBA Securities raised shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. The Goldman Sachs Group lowered their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Wall Street Zen cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th.

Fomento Económico Mexicano Trading Up 0.8%

FMX stock opened at $106.71 on Tuesday. The company has a market capitalization of $38.18 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano has a 52 week low of $81.08 and a 52 week high of $119.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The company’s 50-day simple moving average is $101.65 and its 200 day simple moving average is $93.35.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, sell-side analysts anticipate that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a $1.628 dividend. The ex-dividend date was Thursday, April 24th. This represents a dividend yield of 1.57%. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s payout ratio is 11.41%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Económico Mexicano during the 1st quarter worth about $29,000. Alpine Bank Wealth Management purchased a new stake in Fomento Económico Mexicano in the first quarter valued at approximately $46,000. Banque Transatlantique SA purchased a new position in Fomento Económico Mexicano in the fourth quarter worth $44,000. Banque Cantonale Vaudoise purchased a new position in shares of Fomento Económico Mexicano during the 1st quarter valued at about $51,000. Finally, Mather Group LLC. raised its holdings in shares of Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after buying an additional 369 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.