Fomento Economico Mexicano (NYSE:FMX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $107.66 and traded as high as $122.42. Fomento Economico Mexicano shares last traded at $121.4230, with a volume of 342,741 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on FMX. The Goldman Sachs Group increased their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Barclays raised their price objective on Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.33.

Fomento Economico Mexicano Stock Up 0.1%

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. The company has a market capitalization of $41.96 billion, a P/E ratio of 27.16, a P/E/G ratio of 0.83 and a beta of 0.42. The stock has a 50-day moving average price of $114.94 and a 200-day moving average price of $107.66.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.The company had revenue of $11.61 billion during the quarter. On average, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 4th. Shareholders 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 2.2%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s payout ratio is presently 53.47%.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $11.19, for a total value of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares in the company, valued at approximately $12,627,389.07. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 261,575 shares of company stock valued at $2,795,188 in the last ninety days. Insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently added to or reduced their stakes in the business. Summitry LLC increased its holdings in Fomento Economico Mexicano by 3.3% in the first quarter. Summitry LLC now owns 6,606 shares of the company’s stock worth $734,000 after purchasing an additional 208 shares in the last quarter. Groupama Asset Managment increased its holdings in Fomento Economico Mexicano by 4.1% in the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock worth $512,000 after purchasing an additional 181 shares in the last quarter. Amundi increased its holdings in Fomento Economico Mexicano by 9.8% in the first quarter. Amundi now owns 613,753 shares of the company’s stock worth $68,163,000 after purchasing an additional 54,786 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Fomento Economico Mexicano by 41.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,875 shares of the company’s stock worth $208,000 after purchasing an additional 545 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after purchasing an additional 193,432 shares in the last quarter. 61.00% of the stock is currently owned by 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.