Fomento Economico Mexicano (NYSE:FMX) Reaches New 52-Week High Following Analyst Upgrade

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Get Free Report) reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $117.00 to $126.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Fomento Economico Mexicano traded as high as $130.78 and last traded at $130.62, with a volume of 169695 shares traded. The stock had previously closed at $128.87.

Several other equities research analysts have also weighed in on the company. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. UBS Group increased their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Barclays boosted their target price on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano currently has an average rating of “Moderate Buy” and a consensus target price of $118.67.

Get Fomento Economico Mexicano alerts:

Check Out Our Latest Analysis on FMX

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently bought and sold shares of FMX. AQR Capital Management LLC raised its holdings in Fomento Economico Mexicano by 11,692.3% in the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after buying an additional 709,957 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Fomento Economico Mexicano by 12,960.1% during the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after buying an additional 595,388 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Fomento Economico Mexicano during the third quarter valued at approximately $50,343,000. Invesco Ltd. increased its position in shares of Fomento Economico Mexicano by 67.8% during the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after acquiring an additional 423,073 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Fomento Economico Mexicano in the 4th quarter worth approximately $41,408,000. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Price Performance

The firm has a market capitalization of $45.12 billion, a P/E ratio of 29.21, a PEG ratio of 0.75 and a beta of 0.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The firm has a 50-day moving average of $121.45 and a 200-day moving average of $112.40.

Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.The business had revenue of $11.61 billion during the quarter. As a group, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were issued a $0.6658 dividend. This represents a $2.66 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 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.

Read More

• Five stocks we like better than Fomento Economico Mexicano
• Is OpenAI’s IPO Delay a Warning for AI Investors?
• onsemi: What the Market Gets Wrong, You Can Get Right
• Is McCormick a Steal Ahead of Game-Changing Unilever Deal?
• Qualcomm’s Investor Day Just Changed the Growth Story Forever

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.