Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Given Consensus Rating of “Moderate Buy” by Analysts

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $118.6667.

FMX has been the subject of several recent research reports. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th.

Fomento Economico Mexicano Price Performance

FMX stock opened at $127.79 on Wednesday. The firm has a 50 day moving average price of $121.94 and a 200-day moving average price of $112.76. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $131.81. The firm has a market capitalization of $44.16 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 0.76 and a beta of 0.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The firm had revenue of $11.61 billion during the quarter. Equities research analysts forecast that Fomento Economico Mexicano will post 5.77 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were issued a $0.6658 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is presently 53.47%.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently added to or reduced their stakes in FMX. V Square Quantitative Management LLC purchased a new position in Fomento Economico Mexicano in the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Fomento Economico Mexicano during the 4th quarter valued at $50,000. Finally, Brown Brothers Harriman & Co. raised its stake in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.