Fomento Economico Mexicano (NYSE:FMX) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $95.63 and traded as high as $104.57. Fomento Economico Mexicano shares last traded at $103.8660, with a volume of 378,264 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FMX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Barclays lowered their price target on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. 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 report on Monday, October 20th. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Finally, Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.63.

Fomento Economico Mexicano Stock Performance

The firm’s 50 day moving average is $99.38 and its 200 day moving average is $95.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The stock has a market cap of $36.86 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 4.01 and a beta of 0.46.

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

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Friday, January 16th will be given a dividend of $2.0531 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 7.9%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is currently 90.32%.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its holdings in shares of Fomento Economico Mexicano by 41.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 203,498 shares of the company’s stock valued at $20,568,000 after acquiring an additional 59,633 shares in the last quarter. Riverbridge Partners LLC purchased a new stake in Fomento Economico Mexicano during the 4th quarter worth approximately $235,000. DAVENPORT & Co LLC increased its stake in Fomento Economico Mexicano by 23.6% during the 4th quarter. DAVENPORT & Co LLC now owns 28,406 shares of the company’s stock valued at $2,871,000 after purchasing an additional 5,423 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Fomento Economico Mexicano by 42.0% in the fourth quarter. SG Americas Securities LLC now owns 7,038 shares of the company’s stock worth $711,000 after buying an additional 2,082 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of Fomento Economico Mexicano by 20.5% in the fourth quarter. Park Avenue Securities LLC now owns 3,387 shares of the company’s stock worth $342,000 after buying an additional 577 shares during the last quarter. Institutional investors and hedge funds 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.