Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $101.63 Consensus Target Price from Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been assigned a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $101.6333.

Several brokerages have recently weighed in on FMX. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Barclays reduced their price target on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FMX. Caitong International Asset Management Co. Ltd acquired a new position in Fomento Economico Mexicano in the first quarter valued at $29,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the last quarter. Farther Finance Advisors LLC increased its position in Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Fomento Economico Mexicano in the 2nd quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC raised its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Trading Down 1.8%

NYSE:FMX opened at $100.19 on Friday. The stock has a 50-day simple moving average of $96.69 and a 200-day simple moving average of $95.89. The stock has a market cap of $35.85 billion, a P/E ratio of 40.40, a P/E/G ratio of 5.07 and a beta of 0.47. Fomento Economico Mexicano has a 1 year low of $81.07 and a 1 year high of $108.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.18). The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. As a group, analysts anticipate that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were issued a $1.9982 dividend. This represents a $7.99 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Thursday, October 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio is presently 90.32%.

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.