Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $102.00 at JPMorgan Chase & Co.

Fomento Economico Mexicano (NYSE:FMXFree Report) had its price objective upped by JPMorgan Chase & Co. from $96.00 to $102.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on the company. Barclays dropped their price objective on 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Morgan Stanley restated an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Finally, Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their target price for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.97.

View Our Latest Research Report on Fomento Economico Mexicano

Fomento Economico Mexicano Stock Down 0.3%

Shares of FMX opened at $95.84 on Monday. 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 company has a 50-day moving average price of $91.24 and a two-hundred day moving average price of $97.71. The stock has a market cap of $34.29 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 5.63 and a beta of 0.72. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74.

Fomento Economico Mexicano (NYSE:FMXGet Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. Equities 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Thursday, October 16th will be paid a dividend of $1.9982 per share. This represents a $7.99 annualized dividend and a dividend yield of 8.3%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is currently 76.19%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FMX. Farther Finance Advisors LLC lifted its position in Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 108 shares during the period. Stephens Inc. AR lifted its holdings in shares of Fomento Economico Mexicano by 2.1% during the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after acquiring an additional 121 shares during the period. Park Avenue Securities LLC boosted its position in shares of Fomento Economico Mexicano by 4.6% during the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after acquiring an additional 125 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Fomento Economico Mexicano by 25.3% during the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Fomento Economico Mexicano (NYSE:FMX)

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