Barclays Issues Positive Forecast for Fomento Economico Mexicano (NYSE:FMX) Stock Price

Fomento Economico Mexicano (NYSE:FMX) had its price objective boosted by Barclays from $105.00 to $116.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts have also weighed in on FMX. JPMorgan Chase & Co. lifted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and an average target price of $104.60.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $113.11 on Tuesday. The company’s 50 day moving average price is $103.70 and its 200-day moving average price is $96.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $113.63.

Fomento Economico Mexicano Increases Dividend

The business also recently declared 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 is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.3%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 91.94%.

Institutional Trading of Fomento Economico Mexicano

Several institutional investors and hedge funds have recently modified their holdings of FMX. Citigroup Inc. grew its holdings in Fomento Economico Mexicano by 309.6% during the second quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after buying an additional 1,296,194 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in Fomento Economico Mexicano by 24.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock worth $112,928,000 after acquiring an additional 222,064 shares during the last quarter. Invesco Ltd. grew its stake in shares of Fomento Economico Mexicano by 67.8% in the 3rd quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after acquiring an additional 423,073 shares in the last quarter. Altrinsic Global Advisors LLC grew its stake in shares of Fomento Economico Mexicano by 52.4% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock worth $97,298,000 after acquiring an additional 324,781 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Fomento Economico Mexicano by 21.2% in the third quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock valued at $74,780,000 after purchasing an additional 132,440 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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.