Fomento Economico Mexicano (NYSE:FMX) Receives “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Fomento Economico Mexicano (NYSE:FMX) in a research report sent to investors on Tuesday, MarketBeat.com reports. Morgan Stanley currently has a $97.00 price target on the stock, down from their prior price target of $132.00.

Other equities research analysts also recently issued reports about the stock. Barclays lowered their price objective on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, UBS Group boosted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $105.16.

Fomento Economico Mexicano Trading Down 0.9%

NYSE:FMX opened at $84.5050 on Tuesday. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $114.13. The firm has a fifty day simple moving average of $97.09 and a 200-day simple moving average of $98.30. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $30.24 billion, a P/E ratio of 28.74, a PEG ratio of 4.02 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. On average, equities research analysts anticipate that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a — dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. The ex-dividend date of this dividend was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano’s previous — dividend of $0.73. This represents a yield of 200.0%. Fomento Economico Mexicano’s dividend payout ratio is presently 74.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in Fomento Economico Mexicano in the first quarter valued at $207,000. Crossmark Global Holdings Inc. increased its holdings in Fomento Economico Mexicano by 29.3% in the first quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company’s stock valued at $2,572,000 after buying an additional 5,977 shares in the last quarter. Cerity Partners LLC increased its holdings in Fomento Economico Mexicano by 25.4% in the first quarter. Cerity Partners LLC now owns 13,778 shares of the company’s stock valued at $1,344,000 after buying an additional 2,795 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Fomento Economico Mexicano by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company’s stock valued at $2,405,000 after buying an additional 4,096 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Fomento Economico Mexicano by 27,873.3% in the first quarter. GAMMA Investing LLC now owns 20,980 shares of the company’s stock valued at $2,047,000 after buying an additional 20,905 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Economico Mexicano

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.