Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Stock Has Average Target Price of $135.67

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $135.67.

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their target price for the stock from $125.00 to $150.00 in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. JPMorgan Chase & Co. lifted their target price 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. Finally, Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th.

Fomento Economico Mexicano Stock Down 0.5%

Fomento Economico Mexicano stock opened at $120.99 on Friday. 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 has a market capitalization of $41.81 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 0.65 and a beta of 0.41. Fomento Economico Mexicano has a fifty-two week low of $90.87 and a fifty-two week high of $141.47. The stock’s fifty day moving average is $119.53 and its two-hundred day moving average is $121.27.

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

Fomento Economico Mexicano Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Wednesday, October 14th will be paid a dividend of $1.7804 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $7.12 annualized dividend and a dividend yield of 5.9%. This is a drop from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s dividend payout ratio is presently 48.60%.

Insider Buying and Selling

In other news, Director Michael David Kahn acquired 2,100 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the acquisition, the director directly owned 2,100 shares in the company, valued at $248,073. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.68% of the stock is owned by corporate insiders.

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently bought and sold shares of FMX. GAMMA Investing LLC raised its holdings in Fomento Economico Mexicano by 79.2% in the third quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock valued at $47,000 after buying an additional 175 shares during the period. QRG Capital Management Inc. lifted its position in Fomento Economico Mexicano by 33.3% during the second quarter. QRG Capital Management Inc. now owns 2,557 shares of the company’s stock valued at $327,000 after buying an additional 639 shares in the last quarter. Tidal Investments LLC grew its stake in Fomento Economico Mexicano by 11.4% during the second quarter. Tidal Investments LLC now owns 8,778 shares of the company’s stock worth $1,123,000 after buying an additional 896 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Fomento Economico Mexicano during the second quarter worth approximately $217,000. Finally, NewEdge Advisors LLC raised its stake in shares of Fomento Economico Mexicano by 30.9% in the 2nd quarter. NewEdge Advisors LLC now owns 7,872 shares of the company’s stock valued at $1,007,000 after acquiring an additional 1,856 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.