Wall Street Zen downgraded shares of Fomento Economico Mexicano (NYSE:FMX – Free Report) from a buy rating to a hold rating in a research note published on Saturday.
Several other equities analysts also recently issued reports on the company. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays lifted their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, UBS Group increased their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.
Read Our Latest Report on Fomento Economico Mexicano
Fomento Economico Mexicano Stock Down 0.3%
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The business had revenue of $11.61 billion for the quarter. Sell-side analysts forecast that Fomento Economico Mexicano will post 6.19 earnings per share for the current year.
Fomento Economico Mexicano Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th will be paid a $1.827 dividend. The ex-dividend date is Wednesday, July 15th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a dividend yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 92.62%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after purchasing an additional 969 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fomento Economico Mexicano by 2,006.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at about $429,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock valued at $119,000 after buying an additional 438 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Fomento Economico Mexicano in the 2nd quarter valued at about $504,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.
About Fomento Economico Mexicano
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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