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

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $105.16.

Several research analysts recently weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. 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 note on Thursday, July 10th. Finally, Barclays cut their target price 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Fomento Economico Mexicano by 1.9% during the 1st quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after acquiring an additional 100,898 shares during the last quarter. Nuveen LLC acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at about $330,437,000. Nuveen Asset Management LLC increased its stake in shares of Fomento Economico Mexicano by 25.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company’s stock valued at $184,540,000 after acquiring an additional 437,699 shares during the last quarter. Citigroup Inc. increased its stake in shares of Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after acquiring an additional 1,296,194 shares during the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Fomento Economico Mexicano by 10.8% during the 2nd quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock valued at $119,414,000 after acquiring an additional 112,813 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $83.61 on Thursday. Fomento Economico Mexicano has a 52 week low of $81.07 and a 52 week high of $108.74. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $93.55 and its 200 day simple moving average is $98.16. The firm has a market capitalization of $29.91 billion, a PE ratio of 28.44, a P/E/G ratio of 5.07 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last released 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 business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $216.71 billion. On average, equities research analysts predict that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a $1.3625 dividend. This represents a $5.45 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.73. Fomento Economico Mexicano’s dividend payout ratio is presently 74.83%.

Fomento Economico 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.