Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Average Rating of “Hold” by Analysts

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has received an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $135.75.

Several analysts recently commented on the stock. HSBC raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their target price for the stock from $124.00 to $152.00 in a report on Friday, February 9th. UBS Group cut shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $124.24 on Friday. The company has a market capitalization of $44.46 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 1.91. The company has a 50-day simple moving average of $129.20 and a 200 day simple moving average of $124.74. Fomento Económico Mexicano has a 52 week low of $91.71 and a 52 week high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last announced its earnings results on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. On average, sell-side analysts predict that Fomento Económico Mexicano will post 5.7 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th will be given a $1.115 dividend. The ex-dividend date of this dividend is Tuesday, April 16th. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s payout ratio is presently 6.11%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in shares of Fomento Económico Mexicano by 53.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,838,639 shares of the company’s stock valued at $500,367,000 after buying an additional 1,343,165 shares in the last quarter. BlackRock Inc. raised its position in shares of Fomento Económico Mexicano by 11.0% in the 3rd quarter. BlackRock Inc. now owns 3,056,875 shares of the company’s stock valued at $191,820,000 after buying an additional 302,363 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Fomento Económico Mexicano by 3.8% in the 4th quarter. Schroder Investment Management Group now owns 2,583,664 shares of the company’s stock valued at $336,781,000 after buying an additional 94,199 shares in the last quarter. JPMorgan Chase & Co. increased its position in Fomento Económico Mexicano by 11.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock worth $205,266,000 after purchasing an additional 193,543 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Fomento Económico Mexicano by 4.0% during the 1st quarter. Deutsche Bank AG now owns 875,852 shares of the company’s stock worth $83,372,000 after purchasing an additional 33,900 shares in the last quarter.

Fomento Económico Mexicano Company Profile

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.