Fomento Economico Mexicano (NYSE:FMX) Sets New 1-Year High – What’s Next?

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) hit a new 52-week high during trading on Thursday . The company traded as high as $108.97 and last traded at $105.6550, with a volume of 37912 shares changing hands. The stock had previously closed at $108.09.

Analyst Ratings Changes

A number of research analysts recently issued reports on FMX shares. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, Barclays cut their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus target price of $102.40.

Fomento Economico Mexicano Trading Down 1.6%

The stock’s fifty day moving average price is $101.86 and its 200 day moving average price is $95.81. 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 stock has a market cap of $37.98 billion, a PE ratio of 42.11, a PEG ratio of 4.05 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). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $215.60 billion. On average, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a $2.0531 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.9%. Fomento Economico Mexicano’s payout ratio is presently 91.94%.

Institutional Trading of Fomento Economico Mexicano

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. Farther Finance Advisors LLC raised its stake 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 during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at $40,000. Tower Research Capital LLC TRC boosted its stake in shares of Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Fomento Economico Mexicano in the third quarter worth $54,000. 61.00% of the stock is currently owned by institutional investors.

About Fomento Economico Mexicano

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.