Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $134.00

Fomento Economico Mexicano (NYSE:FMX) had its target price lifted by UBS Group from $130.00 to $134.00 in a report released on Friday morning, Marketbeat Ratings reports. UBS Group currently has a neutral rating on the stock.

Several other research analysts have also weighed in on FMX. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their target price for the company from $125.00 to $150.00 in a research note on Tuesday, August 4th. Benchmark upgraded shares of Fomento Economico Mexicano to an “overweight” rating in a report on Friday, October 16th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a research note on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.50.

Fomento Economico Mexicano Trading Up 0.2%

NYSE:FMX opened at $128.75 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. Fomento Economico Mexicano has a fifty-two week low of $90.87 and a fifty-two week high of $141.47. The stock’s 50-day moving average is $120.56 and its two-hundred day moving average is $122.12. The stock has a market cap of $44.49 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The company had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. As a group, equities research analysts forecast that Fomento Economico Mexicano will post 6.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Wednesday, October 14th will be paid a $1.7804 dividend. This represents a $7.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, October 14th. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 46.20%.

Insider Buying and Selling

In other Fomento Economico Mexicano news, Director Michael David Kahn acquired 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the transaction, the director owned 2,100 shares in the company, valued at $248,073. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.68% of the company’s stock.

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Fomento Economico Mexicano by 3.2% during the 1st 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 during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Fomento Economico Mexicano by 14.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,379,331 shares of the company’s stock valued at $282,093,000 after purchasing an additional 292,659 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Fomento Economico Mexicano by 75.2% in the 3rd quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock valued at $100,162,000 after purchasing an additional 362,738 shares during the last quarter. Amundi boosted 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. Finally, USS Investment Management Ltd boosted its holdings in Fomento Economico Mexicano by 44.9% in the first quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock worth $51,386,000 after purchasing an additional 143,430 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.