Fomento Economico Mexicano (NYSE:FMX) Sets New 1-Year High – What’s Next?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMXGet Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $124.87 and last traded at $124.7430, with a volume of 335317 shares. The stock had previously closed at $123.12.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group raised their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Read Our Latest Research Report on Fomento Economico Mexicano

Fomento Economico Mexicano Price Performance

The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The firm has a market cap of $42.22 billion, a P/E ratio of 27.33, a PEG ratio of 0.84 and a beta of 0.42. The firm has a 50-day simple moving average of $113.20 and a 200-day simple moving average of $106.33.

Fomento Economico Mexicano (NYSE:FMXGet Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. As a group, analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.6658 per share. This represents a $2.66 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 53.47%.

Insider Transactions at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $11.19, for a total transaction of $585,360.09. Following the sale, the director owned 1,128,453 shares of the company’s stock, valued at approximately $12,627,389.07. This trade represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 261,575 shares of company stock worth $2,795,188. 5.68% of the stock is currently owned by company insiders.

Institutional Trading of Fomento Economico Mexicano

Institutional investors have recently made changes to their positions in the business. Strs Ohio boosted its position in shares of Fomento Economico Mexicano by 8.5% in the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after purchasing an additional 25,000 shares in the last quarter. LBP AM SA boosted its position in shares of Fomento Economico Mexicano by 22.1% in the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after purchasing an additional 93,997 shares in the last quarter. Fundamenta Capital S.A. acquired a new stake in shares of Fomento Economico Mexicano in the 4th quarter worth $13,527,000. INCA Investments LLC boosted its position in shares of Fomento Economico Mexicano by 34.6% in the 3rd quarter. INCA Investments LLC now owns 369,725 shares of the company’s stock worth $36,466,000 after purchasing an additional 94,956 shares in the last quarter. Finally, Northcape Capital Pty Ltd boosted its position in shares of Fomento Economico Mexicano by 15.1% in the 4th quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company’s stock worth $46,279,000 after purchasing an additional 58,920 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Fomento Economico Mexicano

(Get Free Report)

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.

Further Reading

Receive News & Ratings for Fomento Economico Mexicano Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fomento Economico Mexicano and related companies with MarketBeat.com's FREE daily email newsletter.