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

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $108.50.

A number of equities analysts recently commented on FMX shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Barclays upped their price objective on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, February 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Fomento Economico Mexicano in the 2nd quarter valued at about $40,000. Tower Research Capital LLC TRC lifted its position in Fomento Economico Mexicano by 42.5% in the second 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 last quarter. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano during the fourth quarter worth about $50,000. Finally, Mather Group LLC. acquired a new stake in shares of Fomento Economico Mexicano during the third quarter valued at about $54,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Trading Up 0.9%

FMX stock opened at $112.83 on Thursday. 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 firm has a 50-day moving average of $106.08 and a two-hundred day moving average of $98.04. Fomento Economico Mexicano has a 12 month low of $83.08 and a 12 month high of $116.09.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were paid 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 dividend yield of 7.3%. Fomento Economico Mexicano’s dividend payout ratio is currently 91.94%.

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.