Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives $129.40 Average Price Target from Brokerages

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report) has been assigned an average rating of "Hold" from the seven ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $129.40.

Several research analysts have commented on FMX shares. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Saturday. Barclays decreased their price target on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an "overweight" rating for the company in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd.

Fomento Económico Mexicano Trading Down 0.3 %

Shares of FMX traded down $0.30 during midday trading on Wednesday, hitting $97.70. The stock had a trading volume of 420,335 shares, compared to its average volume of 684,202. Fomento Económico Mexicano has a fifty-two week low of $95.84 and a fifty-two week high of $143.43. The business has a 50-day simple moving average of $101.97 and a two-hundred day simple moving average of $110.01. The firm has a market cap of $34.96 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The company had revenue of $11.54 billion during the quarter. As a group, equities analysts forecast that Fomento Económico Mexicano will post 5.41 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be issued a $0.864 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 23.04%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Institutional investors have recently added to or reduced their stakes in the company. Park Place Capital Corp raised its holdings in shares of Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company's stock worth $29,000 after buying an additional 97 shares in the last quarter. Oldfield Partners LLP increased its holdings in Fomento Económico Mexicano by 0.8% during the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock valued at $1,432,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 valued at $167,000 after purchasing an additional 105 shares in the last quarter. Baker Ellis Asset Management LLC increased 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 valued at $4,677,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Alliance increased its stake in shares of 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 buying 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.