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

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $101.6333.

Several brokerages recently issued reports on FMX. Barclays reduced their price target on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. upped their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Citigroup Inc. raised its holdings in Fomento Economico Mexicano by 309.6% in 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 increased its holdings in shares of Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after purchasing an additional 709,957 shares in the last quarter. Victory Capital Management Inc. raised its stake 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 worth $59,176,000 after purchasing an additional 595,388 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Fomento Economico Mexicano by 105.4% during the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after purchasing an additional 570,640 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Fomento Economico Mexicano during the third quarter valued at $50,343,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of NYSE:FMX opened at $104.18 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $96.03 and a 200-day moving average price of $96.08. The company has a market cap of $37.27 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 5.10 and a beta of 0.47. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. As a group, equities analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were given a $1.9982 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s payout ratio is currently 90.32%.

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.