JPMorgan Chase & Co. Issues Positive Forecast for Fomento Economico Mexicano (NYSE:FMX) Stock Price

Fomento Economico Mexicano (NYSE:FMX) had its price objective increased by JPMorgan Chase & Co. from $98.00 to $117.00 in a research note published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on FMX. Barclays increased their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. UBS Group increased their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.17.

Fomento Economico Mexicano Stock Down 0.4%

Shares of NYSE FMX opened at $117.29 on Monday. The stock has a market cap of $40.53 billion, a P/E ratio of 41.15, a PEG ratio of 0.86 and a beta of 0.40. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano has a 12-month low of $83.08 and a 12-month high of $119.21. The business’s fifty day simple moving average is $111.46 and its 200-day simple moving average is $103.68.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. The business had revenue of $12.21 billion for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. As a group, equities analysts predict that Fomento Economico Mexicano will post 4.56 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 22nd will be given a $0.6658 dividend. This represents a $2.66 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is 80.00%.

Insider Transactions at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,316 shares of the business’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 owned 1,233,080 shares in the company, valued at $13,650,195.60. The trade was a 4.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 261,575 shares of company stock valued at $2,795,188. Insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors have recently added to or reduced their stakes in the business. Value Partners Investments Inc. boosted its stake in shares of Fomento Economico Mexicano by 43.3% during the 3rd 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 in the last quarter. Strs Ohio boosted its stake in shares of 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 acquiring an additional 25,000 shares in the last quarter. LBP AM SA boosted its stake in shares of Fomento Economico Mexicano by 22.1% during the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after acquiring an additional 93,997 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Fomento Economico Mexicano by 79.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 143,865 shares of the company’s stock worth $14,189,000 after acquiring an additional 63,865 shares in the last quarter. Finally, INCA Investments LLC boosted its stake in shares of Fomento Economico Mexicano by 34.6% during the 3rd quarter. INCA Investments LLC now owns 369,725 shares of the company’s stock worth $36,466,000 after acquiring an additional 94,956 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

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.