Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives Average Rating of “Hold” from Analysts

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received an average rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $101.6333.

FMX has been the topic of a number of recent research reports. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th.

Fomento Economico Mexicano Stock Up 1.5%

Shares of Fomento Economico Mexicano stock opened at $104.18 on Friday. Fomento Economico Mexicano has a twelve month low of $81.07 and a twelve month high of $108.74. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $96.03 and its 200 day moving average is $96.08. The company has a market cap of $37.27 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 5.10 and a beta of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. Research analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were given a dividend of $1.9982 per share. This represents a $7.99 annualized dividend and a yield of 7.7%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date was Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 90.32%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FMX. Caitong International Asset Management Co. Ltd bought a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $35,000 after purchasing an additional 321 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 108 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Fomento Economico Mexicano in the second quarter worth $40,000. Finally, Tower Research Capital LLC TRC raised its position 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 purchasing an additional 131 shares during the period. Institutional investors own 61.00% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.