Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Get Free Report) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $131.4286.
Several analysts have weighed in on FMX shares. JPMorgan Chase & Co. lifted their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fomento Economico Mexicano in a report on Friday, August 7th. UBS Group reissued a “neutral” rating and issued a $139.00 target price on shares of Fomento Economico Mexicano in a research report on Thursday, August 6th. Zacks Research cut Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the company from $125.00 to $150.00 in a research report on Tuesday, August 4th.
View Our Latest Research Report on Fomento Economico Mexicano
Insider Buying and Selling
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in Fomento Economico Mexicano during the 2nd quarter valued at about $439,000. Pin Oak Investment Advisors Inc. bought a new stake in Fomento Economico Mexicano during the second quarter worth about $33,000. Public Employees Retirement System of Ohio purchased a new stake in Fomento Economico Mexicano in the second quarter worth about $18,937,000. Councilmark Asset Management LLC purchased a new stake in Fomento Economico Mexicano in the second quarter worth about $1,126,000. Finally, Cook & Bynum Capital Management LLC bought a new position in shares of Fomento Economico Mexicano during the second quarter valued at approximately $29,857,616,000. 61.00% of the stock is currently owned by institutional investors.
Fomento Economico Mexicano Trading Up 1.6%
NYSE:FMX opened at $120.62 on Thursday. The company has a 50-day moving average price of $125.64 and a 200-day moving average price of $118.63. The stock has a market cap of $41.68 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 0.67 and a beta of 0.40. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano has a 12 month low of $83.33 and a 12 month high of $141.47.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The company had revenue of $13.20 billion for the quarter. Equities analysts predict that Fomento Economico Mexicano will post 6.09 EPS for the current year.
Fomento Economico Mexicano Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were issued a $1.827 dividend. This represents a $7.31 dividend on an annualized basis and a yield of 6.1%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio is currently 48.60%.
Fomento Economico Mexicano Company Profile
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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