Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report)'s stock price shot up 5.6% during mid-day trading on Thursday . The company traded as high as $96.85 and last traded at $94.49. 130,285 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 489,451 shares. The stock had previously closed at $89.47.
Wall Street Analyst Weigh In
Several research firms have commented on FMX. The Goldman Sachs Group lowered their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Barclays downgraded shares of Fomento Económico Mexicano from an "overweight" rating to an "equal weight" rating in a report on Tuesday, January 21st. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th.
Read Our Latest Stock Report on Fomento Económico Mexicano
Fomento Económico Mexicano Stock Performance
The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 5.26 and a beta of 0.90. The firm has a fifty day simple moving average of $86.75 and a 200 day simple moving average of $93.27.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The company had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.
Fomento Económico Mexicano Increases Dividend
The business also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were paid a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a boost from Fomento Económico Mexicano's previous dividend of $0.74. Fomento Económico Mexicano's payout ratio is currently 11.03%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its stake in Fomento Económico Mexicano by 20.5% during the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after buying an additional 2,150,913 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Fomento Económico Mexicano by 5.5% in the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock worth $450,454,000 after acquiring an additional 274,467 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Fomento Económico Mexicano by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after purchasing an additional 18,750 shares in the last quarter. Schroder Investment Management Group raised its stake in Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after purchasing an additional 717,666 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Fomento Económico Mexicano by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after purchasing an additional 205,981 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.
Fomento Económico Mexicano Company Profile
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Get Free Report)
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.
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