Brokerages Set Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) PT at $128.25

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $128.25.

Several brokerages have commented on FMX. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, Barclays cut their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMX. Baillie Gifford & Co. increased its position in Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company's stock worth $425,118,000 after buying an additional 421,057 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock worth $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Fomento Económico Mexicano by 267.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company's stock worth $30,956,000 after acquiring an additional 228,284 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Fomento Económico Mexicano during the 3rd quarter valued at $19,856,000. Finally, Millennium Management LLC boosted its holdings in Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company's stock valued at $23,948,000 after purchasing an additional 189,632 shares during the period.

Fomento Económico Mexicano Trading Down 1.2 %

FMX stock traded down $1.08 on Friday, hitting $90.08. 460,568 shares of the company were exchanged, compared to its average volume of 668,587. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 5.28 and a beta of 0.94. Fomento Económico Mexicano has a twelve month low of $90.00 and a twelve month high of $143.43. The business's fifty day moving average is $98.42 and its two-hundred day moving average is $107.01.

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 issued a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio is currently 12.82%.

Fomento Económico Mexicano Company Profile

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.