Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) PT at $110.67

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given an average recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $110.6667.

Several brokerages have recently weighed in on FMX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. UBS Group upped their price target on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Barclays increased their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th.

Insider Activity at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,316 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $11.07, for a total value of $579,138.12. Following the transaction, the director directly owned 1,233,080 shares in the company, valued at $13,650,195.60. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 261,575 shares of company stock valued at $2,795,188. Company insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Fomento Economico Mexicano

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 7.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after buying an additional 96 shares during the period. UMB Bank n.a. raised its holdings in shares of Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after buying an additional 96 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Fomento Economico Mexicano by 42.5% during 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. Arax Advisory Partners raised its holdings in shares of Fomento Economico Mexicano by 20.1% during the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after buying an additional 136 shares during the period. Finally, Signaturefd LLC increased its stake in Fomento Economico Mexicano by 5.1% during the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock worth $302,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX stock opened at $117.72 on Friday. The stock has a market capitalization of $40.68 billion, a price-to-earnings ratio of 41.30, a price-to-earnings-growth ratio of 0.86 and a beta of 0.40. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $119.21. The stock’s fifty day simple moving average is $111.35 and its 200-day simple moving average is $103.54.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. The firm had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. Equities research analysts expect that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is presently 80.00%.

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.