Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Stock Has Average Price Target of $140.50

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $142.17.

A number of brokerages have recently weighed in on FMX. JPMorgan Chase & Co. raised Fomento Economico Mexicano from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $126.00 to $151.00 in a research report on Friday, October 16th. Benchmark upgraded shares of Fomento Economico Mexicano to an “overweight” rating in a report on Friday, October 16th. Barclays raised their price objective on shares of Fomento Economico Mexicano from $138.00 to $140.00 and gave the company an “equal weight” rating in a research note on Tuesday. Zacks Research cut shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group boosted their target price on shares of Fomento Economico Mexicano from $130.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd.

Insider Transactions at Fomento Economico Mexicano

In related news, Director Michael David Kahn purchased 2,100 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $118.13 per share, for a total transaction of $248,073.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Allianz Asset Management GmbH purchased a new position in shares of Fomento Economico Mexicano in the 2nd quarter worth approximately $1,210,000. Robeco Institutional Asset Management B.V. increased its position in shares of Fomento Economico Mexicano by 14.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,379,331 shares of the company’s stock valued at $282,093,000 after acquiring an additional 292,659 shares during the last quarter. Madison Asset Management LLC purchased a new stake in shares of Fomento Economico Mexicano during the second quarter valued at approximately $1,727,000. Cook & Bynum Capital Management LLC purchased a new stake in shares of Fomento Economico Mexicano during the second quarter valued at approximately $29,857,616. Finally, Assenagon Asset Management S.A. lifted its holdings in Fomento Economico Mexicano by 367.3% during the third quarter. Assenagon Asset Management S.A. now owns 88,097 shares of the company’s stock worth $10,445,000 after acquiring an additional 69,245 shares during the period. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX stock opened at $128.64 on Tuesday. The stock has a market capitalization of $44.45 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 0.70 and a beta of 0.44. The company’s 50-day moving average is $121.65 and its 200-day moving average is $118.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 0.87. Fomento Economico Mexicano has a 1 year low of $92.55 and a 1 year high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, October 28th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.84 billion. Fomento Economico Mexicano had a return on equity of 7.71% and a net margin of 3.98%. Equities research analysts expect that Fomento Economico Mexicano will post 6.32 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Wednesday, October 14th were given a $1.7804 dividend. This represents a $7.12 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Wednesday, October 14th. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s payout ratio is 40.38%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Monterrey, Mexico-based multinational company with operations focused on beverage bottling, retail and related consumer services. The company traces its origins to 1890, when it was established as a brewery in Monterrey, and has since developed into one of Latin America’s largest consumer-facing businesses.

FEMSA’s principal beverage business is Coca-Cola FEMSA, which produces, markets, sells and distributes Coca-Cola trademark beverages and other nonalcoholic drinks.