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 been given an average rating of “Hold” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $102.40.

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. JPMorgan Chase & Co. lifted 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. Finally, Barclays decreased their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd.

Fomento Economico Mexicano Stock Down 1.6%

NYSE FMX opened at $104.44 on Friday. The business’s fifty day simple moving average is $101.86 and its 200-day simple moving average is $95.80. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market cap of $37.98 billion, a PE ratio of 42.11, a P/E/G ratio of 4.05 and a beta of 0.46. Fomento Economico Mexicano has a 52 week low of $82.50 and a 52 week high of $108.97.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a dividend of $2.0531 per share. This represents a $8.21 annualized dividend and a yield of 7.9%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is 91.94%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Large investors have recently made changes to their positions in the stock. Value Partners Investments Inc. increased its position in shares of Fomento Economico Mexicano by 43.3% during the third quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock worth $13,516,000 after acquiring an additional 41,400 shares during the period. Strs Ohio increased its holdings in Fomento Economico Mexicano by 8.5% during the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after purchasing an additional 25,000 shares during the period. LBP AM SA raised its position in Fomento Economico Mexicano by 22.1% in the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock valued at $51,143,000 after purchasing an additional 93,997 shares in the last quarter. INCA Investments LLC boosted its stake in shares of Fomento Economico Mexicano by 106.1% in the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock valued at $28,296,000 after buying an additional 141,419 shares during the period. Finally, Barings LLC grew its position in shares of Fomento Economico Mexicano by 31.7% during the second quarter. Barings LLC now owns 72,617 shares of the company’s stock worth $7,478,000 after buying an additional 17,488 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.