Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $101.6333.

Several analysts have commented on the stock. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Finally, Barclays reduced their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd.

Fomento Economico Mexicano Stock Down 0.9%

FMX opened at $93.24 on Tuesday. The company has a market capitalization of $33.36 billion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 5.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 1.06. Fomento Economico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $108.74. The business has a 50-day moving average of $94.66 and a 200-day moving average of $96.71.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The firm had revenue of $11.71 billion during the quarter, compared to the consensus estimate of $215.60 billion. Equities research analysts forecast 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, October 27th. Investors of record on Thursday, October 16th were issued a $1.9982 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date was Thursday, October 16th. This represents a $7.99 annualized dividend and a yield of 8.6%. Fomento Economico Mexicano’s dividend payout ratio is presently 89.92%.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors have recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Fomento Economico Mexicano in the first quarter worth $330,437,000. Citigroup Inc. lifted its position in Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after acquiring an additional 1,296,194 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares during the period. Victory Capital Management Inc. grew its position in shares of Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after purchasing an additional 595,388 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock worth $106,139,000 after purchasing an additional 570,640 shares during the period. 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.