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

Fomento Economico Mexicano (NYSE:FMX) had its price target upped by Barclays from $116.00 to $118.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on FMX. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.83.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $109.50 on Tuesday. 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 52 week low of $83.08 and a 52 week high of $116.09. The firm’s 50-day simple moving average is $106.92 and its 200 day simple moving average is $98.87.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion for the quarter, compared to the consensus estimate of $11.98 billion. Sell-side analysts forecast that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.5%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 80.00%.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position 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 worth $134,000 after acquiring an additional 96 shares in the last quarter. UMB Bank n.a. lifted its stake in Fomento Economico Mexicano by 15.1% during the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 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 purchasing an additional 131 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of Fomento Economico Mexicano by 20.1% in the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after purchasing an additional 136 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Fomento Economico Mexicano by 5.1% in the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after purchasing an additional 144 shares during the last quarter. Institutional investors 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.