Fomento Economico Mexicano (NYSE:FMX) Sets New 52-Week High – Still a Buy?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s share price hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $110.61 and last traded at $110.54, with a volume of 611023 shares traded. The stock had previously closed at $107.32.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, Barclays lowered 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 report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.40.

Fomento Economico Mexicano Trading Up 3.0%

The firm’s fifty day moving average price is $103.17 and its 200-day moving average price is $96.07. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were issued a $2.0531 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 7.4%. Fomento Economico Mexicano’s payout ratio is currently 91.94%.

Institutional Trading of Fomento Economico Mexicano

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Fomento Economico Mexicano during the second quarter worth $40,000. Tower Research Capital LLC TRC increased its holdings in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the period. Mather Group LLC. acquired a new position in shares of Fomento Economico Mexicano in the 3rd quarter valued at $54,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares in the last quarter. Institutional investors and hedge funds 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.