Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $122.00

Fomento Economico Mexicano (NYSE:FMX) had its target price raised by UBS Group from $109.00 to $122.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Barclays raised their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group upped their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average target price of $110.67.

Fomento Economico Mexicano Price Performance

FMX opened at $101.42 on Friday. The business has a fifty day moving average of $108.40 and a 200 day moving average of $100.79. The stock has a market cap of $35.04 billion, a P/E ratio of 35.59, a PEG ratio of 0.74 and a beta of 0.42. The company has a quick ratio of 1.02, a current ratio of 1.35 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.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.58). The business had revenue of $12.21 billion during the quarter, compared to analysts’ expectations of $11.98 billion. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. As a group, sell-side analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued 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 annualized dividend and a dividend yield of 8.1%. Fomento Economico Mexicano’s dividend payout ratio is presently 80.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in shares of Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares during the period. PNC Financial Services Group Inc. increased its holdings in Fomento Economico Mexicano by 8.8% during the second quarter. PNC Financial Services Group Inc. now owns 7,218 shares of the company’s stock valued at $743,000 after buying an additional 582 shares during the period. SG Americas Securities LLC raised its stake in Fomento Economico Mexicano by 92.6% in the second quarter. SG Americas Securities LLC now owns 5,203 shares of the company’s stock worth $536,000 after buying an additional 2,501 shares in the last quarter. MAI Capital Management raised its stake in Fomento Economico Mexicano by 131.1% in the second quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after buying an additional 447 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Fomento Economico Mexicano by 18.4% during the second quarter. American Century Companies Inc. now owns 304,917 shares of the company’s stock worth $31,400,000 after buying an additional 47,421 shares during the period. 61.00% of the stock is currently owned by institutional investors.

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.