Fomento Económico Mexicano (NYSE:FMX) Sets New 52-Week Low - Here's What Happened

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $85.27 and last traded at $85.69, with a volume of 113981 shares. The stock had previously closed at $86.80.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Barclays cut their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com raised Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.33.

Fomento Económico Mexicano Trading Down 2.4 %

The firm's fifty day simple moving average is $92.56 and its 200 day simple moving average is $102.05. The stock has a market capitalization of $30.31 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were paid a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano's payout ratio is 12.82%.

Institutional Trading of Fomento Económico Mexicano

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in shares of Fomento Económico Mexicano during the third quarter worth $55,000. Van ECK Associates Corp increased its holdings in Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company's stock worth $78,000 after purchasing an additional 306 shares in the last quarter. Fielder Capital Group LLC bought a new position in Fomento Económico Mexicano in the second quarter valued at about $242,000. Whittier Trust Co. of Nevada Inc. raised its position in Fomento Económico Mexicano by 24.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company's stock valued at $245,000 after purchasing an additional 449 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Fomento Económico Mexicano by 67.3% during the second quarter. SG Americas Securities LLC now owns 2,862 shares of the company's stock valued at $308,000 after purchasing an additional 1,151 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

About Fomento Económico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.