Fomento Economico Mexicano (NYSE:FMX) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $95.63 and traded as high as $106.30. Fomento Economico Mexicano shares last traded at $106.2460, with a volume of 501,715 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on FMX shares. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Barclays cut their price objective on 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. Finally, JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Trading Up 2.5%

The firm has a 50 day moving average of $100.35 and a 200 day moving average of $95.63. The firm has a market cap of $37.10 billion, a PE ratio of 42.84, a P/E/G ratio of 4.03 and a beta of 0.46. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $215.60 billion. Equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Friday, January 16th will be paid a $2.0531 dividend. The ex-dividend date is Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.7%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 90.73%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Large investors have recently modified their holdings of the business. Aaron Wealth Advisors LLC purchased a new stake in shares of Fomento Economico Mexicano during the 4th quarter valued at approximately $224,000. Northcape Capital Pty Ltd raised its holdings in Fomento Economico Mexicano by 15.1% during the 4th quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company’s stock valued at $46,279,000 after acquiring an additional 58,920 shares during the period. Signaturefd LLC raised its holdings in Fomento Economico Mexicano by 5.1% during the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after acquiring an additional 144 shares during the period. Perpetual Ltd lifted its position in shares of Fomento Economico Mexicano by 100.2% during the fourth quarter. Perpetual Ltd now owns 85,067 shares of the company’s stock worth $8,598,000 after acquiring an additional 42,580 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Fomento Economico Mexicano in the fourth quarter worth $281,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.