Analysts Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Price Target at $137.17

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $137.1667.

Several brokerages recently commented on FMX. Barclays boosted their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. increased their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th.

Fomento Economico Mexicano Stock Down 1.4%

Fomento Economico Mexicano stock opened at $118.71 on Monday. The firm has a market cap of $41.02 billion, a PE ratio of 23.74, a P/E/G ratio of 0.64 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The firm’s 50 day moving average price is $122.81 and its two-hundred day moving average price is $119.86. Fomento Economico Mexicano has a twelve month low of $90.87 and a twelve month high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. The company had revenue of $13.20 billion during the quarter. On average, research analysts predict that Fomento Economico Mexicano will post 6.35 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a dividend yield of 6.2%. Fomento Economico Mexicano’s dividend payout ratio is presently 48.60%.

Insider Activity

In other Fomento Economico Mexicano news, Director Michael David Kahn acquired 2,100 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the purchase, the director owned 2,100 shares of the company’s stock, valued at approximately $248,073. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its position in shares of Fomento Economico Mexicano by 11.4% during the second quarter. Tidal Investments LLC now owns 8,778 shares of the company’s stock valued at $1,123,000 after buying an additional 896 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Fomento Economico Mexicano in the 2nd quarter valued at $217,000. NewEdge Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano by 30.9% during the 2nd quarter. NewEdge Advisors LLC now owns 7,872 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,856 shares during the period. IFP Advisors Inc bought a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth about $118,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Fomento Economico Mexicano during the 2nd quarter valued at about $705,000. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based company with operations spanning beverage production and distribution, retail, and digital services. Through Coca-Cola FEMSA, the company produces, markets, sells and distributes products under The Coca-Cola Company portfolio, including sparkling beverages, water, sports drinks and other nonalcoholic beverages.

FEMSA also operates a broad network of convenience stores under the OXXO brand. Its retail activities include the sale of packaged food, beverages, tobacco products, personal-care items and other everyday goods, as well as services such as bill payment and financial transactions.