Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $101.63 Consensus Target Price from Brokerages

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $101.6333.

FMX has been the topic of several research reports. UBS Group raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Barclays cut 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Fomento Economico Mexicano by 4.6% during the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after acquiring an additional 125 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares in the last quarter. UMB Bank n.a. increased its holdings in Fomento Economico Mexicano by 25.3% in the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after acquiring an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Fomento Economico Mexicano by 16.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,357 shares of the company’s stock worth $135,000 after purchasing an additional 187 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Trading Down 0.3%

Shares of FMX stock opened at $102.08 on Wednesday. The business has a 50-day moving average price of $98.80 and a two-hundred day moving average price of $95.56. Fomento Economico Mexicano has a 12-month low of $81.93 and a 12-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 firm has a market cap of $36.49 billion, a P/E ratio of 41.16, a price-to-earnings-growth ratio of 3.97 and a beta of 0.46.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data 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 firm 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%. Equities analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be issued a $2.0531 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 90.32%.

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.