Fomento Económico Mexicano (NYSE:FMX) Hits New 1-Year Low - Time to Sell?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $97.01 and last traded at $97.73, with a volume of 18067 shares. The stock had previously closed at $97.76.

Analyst Ratings Changes

A number of analysts have recently weighed in on FMX shares. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their target price for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays dropped their price target on Fomento Económico Mexicano from $145.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $129.40.

Fomento Económico Mexicano Price Performance

The business has a fifty day moving average price of $103.34 and a 200 day moving average price of $111.07. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 5.60 and a beta of 0.94. 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 (NYSE:FMX - Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The firm had revenue of $11.54 billion during the quarter. As a group, research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 earnings per share for the current year.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be paid a $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th. Fomento Económico Mexicano's payout ratio is 23.31%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds have recently modified their holdings of the company. Park Place Capital Corp boosted its stake in shares of Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company's stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Oldfield Partners LLP boosted its position in Fomento Económico Mexicano by 0.8% during the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock worth $1,432,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC boosted its position in Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock worth $167,000 after buying an additional 105 shares during the period. Baker Ellis Asset Management LLC grew its holdings in Fomento Económico Mexicano by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company's stock worth $4,677,000 after acquiring an additional 140 shares during the last quarter. Finally, Wealth Alliance increased its position in Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company's stock valued at $378,000 after acquiring an additional 147 shares during the period.

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.