Fomento Economico Mexicano (NYSE:FMX) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Fomento Economico Mexicano (NYSE:FMX) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat.com reports. They currently have $97.00 price target on the stock, up from their prior price target of $93.00.

A number of other research analysts have also recently commented on the company. Morgan Stanley reissued an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. UBS Group upped their price objective on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, July 10th. Barclays decreased their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Finally, Zacks Research cut Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Fomento Economico Mexicano currently has a consensus rating of “Hold” and an average price target of $103.80.

Fomento Economico Mexicano Stock Up 0.3%

NYSE FMX opened at $87.09 on Tuesday. The stock’s 50 day moving average is $92.24 and its 200 day moving average is $98.09. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The stock has a market cap of $31.16 billion, a PE ratio of 29.62, a P/E/G ratio of 5.08 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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. Research analysts predict that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a dividend of $1.3625 per share. The ex-dividend date of this dividend was Thursday, July 17th. This represents a $5.45 annualized dividend and a dividend yield of 6.3%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.73. Fomento Economico Mexicano’s dividend payout ratio is presently 74.83%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several large investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its position in shares of Fomento Economico Mexicano by 446.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,568 shares of the company’s stock valued at $260,000 after purchasing an additional 2,098 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Fomento Economico Mexicano by 17.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 6,127 shares of the company’s stock valued at $631,000 after purchasing an additional 919 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Fomento Economico Mexicano by 62.0% during the 2nd quarter. Nomura Holdings Inc. now owns 23,878 shares of the company’s stock valued at $2,459,000 after purchasing an additional 9,140 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Fomento Economico Mexicano by 5.7% during the 2nd quarter. Captrust Financial Advisors now owns 16,917 shares of the company’s stock valued at $1,742,000 after purchasing an additional 916 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

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.