Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Get Free Report)’s share price rose 4.7% on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $151.00 price target on the stock, up from their previous price target of $126.00. Fomento Economico Mexicano traded as high as $126.61 and last traded at $126.72. 177,658 shares were traded during mid-day trading, a decline of 61% from the average session volume of 461,257 shares. The stock had previously closed at $120.99.
Several other analysts also recently weighed in on the company. UBS Group decreased their target price on Fomento Economico Mexicano from $139.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, October 1st. Zacks Research downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Benchmark upgraded Fomento Economico Mexicano to an “overweight” rating in a report on Friday. Barclays upped their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.83.
View Our Latest Stock Analysis on Fomento Economico Mexicano
Insider Buying and Selling
In related news, Director Michael David Kahn purchased 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.68% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Fomento Economico Mexicano
A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Fomento Economico Mexicano by 3.2% during the 1st quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after acquiring an additional 193,432 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Fomento Economico Mexicano by 75.2% in the 3rd quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock valued at $100,162,000 after purchasing an additional 362,738 shares during the period. Amundi lifted its stake in shares of Fomento Economico Mexicano by 9.8% in the 1st quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after purchasing an additional 54,786 shares during the period. USS Investment Management Ltd boosted its position in shares of Fomento Economico Mexicano by 44.9% in the 1st quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock worth $51,386,000 after purchasing an additional 143,430 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Fomento Economico Mexicano by 13.1% in the 1st quarter. Sei Investments Co. now owns 236,168 shares of the company’s stock worth $26,229,000 after purchasing an additional 27,439 shares during the last quarter. 61.00% of the stock is owned by institutional investors.
Fomento Economico Mexicano Price Performance
The company has a 50-day moving average price of $119.43 and a 200-day moving average price of $121.46. The firm has a market capitalization of $43.80 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. The firm had revenue of $13.20 billion for the quarter. On average, sell-side analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.35 earnings per share for the current year.
Fomento Economico Mexicano Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Wednesday, October 14th will be paid a dividend of $1.7804 per share. This represents a $7.12 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, October 14th. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. Fomento Economico Mexicano’s payout ratio is 47.60%.
Fomento Economico Mexicano Company Profile
Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.
Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.
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