Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $100.97 Consensus Target Price from Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $100.9667.

A number of analysts have recently issued reports on the stock. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their target price for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Barclays dropped 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. Zacks Research cut shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. Finally, Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of Fomento Economico Mexicano during the 1st quarter valued at approximately $207,000. Crossmark Global Holdings Inc. grew its holdings in Fomento Economico Mexicano by 29.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company’s stock worth $2,572,000 after acquiring an additional 5,977 shares during the last quarter. Royal Bank of Canada grew its holdings in 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 worth $524,003,000 after acquiring an additional 100,898 shares during the last quarter. Cerity Partners LLC grew its holdings in Fomento Economico Mexicano by 25.4% during the 1st quarter. Cerity Partners LLC now owns 13,778 shares of the company’s stock worth $1,344,000 after acquiring an additional 2,795 shares during the last quarter. Finally, Northside Capital Management LLC bought a new stake in Fomento Economico Mexicano during the 2nd quarter worth approximately $530,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Trading Down 3.3%

Shares of NYSE:FMX opened at $95.40 on Monday. Fomento Economico Mexicano has a 52-week low of $81.07 and a 52-week high of $108.74. The company has a market capitalization of $34.13 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 5.78 and a beta of 0.71. The company has a 50-day simple moving average of $90.14 and a 200 day simple moving average of $98.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. Sell-side analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a $1.3625 dividend. This represents a $5.45 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Thursday, July 17th. This is a boost 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.