Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $117.17 Consensus Target Price from Brokerages

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMXGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $117.1667.

Several brokerages have commented on FMX. UBS Group raised their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Barclays raised their price target on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th.

Get Our Latest Report on FMX

Insiders Place Their Bets

In related news, Director Garza Alfonso Garza sold 52,311 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares in the company, valued at approximately $12,627,389.07. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 261,575 shares of company stock worth $2,795,188 in the last ninety days. Company insiders own 5.68% of the company’s stock.

Institutional Trading of Fomento Economico Mexicano

A number of large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in Fomento Economico Mexicano in the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Fomento Economico Mexicano in the 4th quarter worth approximately $50,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX opened at $129.48 on Friday. The firm’s 50 day moving average is $119.34 and its two-hundred day moving average is $110.32. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $130.55. The firm has a market capitalization of $44.74 billion, a P/E ratio of 28.97, a PEG ratio of 0.74 and a beta of 0.42. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMXGet Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The company had revenue of $11.61 billion for the quarter. Analysts anticipate that Fomento Economico Mexicano will post 5.77 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd were issued a $0.6658 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 2.1%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 53.47%.

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.

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Analyst Recommendations for Fomento Economico Mexicano (NYSE:FMX)

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