Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) PT at $102.40

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $102.40.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, Barclays dropped 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 note on Monday, November 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. lifted its position in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Fomento Economico Mexicano during the second quarter worth about $40,000. Tower Research Capital LLC TRC grew its holdings in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Fomento Economico Mexicano during the third quarter worth about $54,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Shares of FMX stock opened at $107.09 on Friday. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $108.97. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $102.88 and its 200-day moving average is $96.02.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a dividend of $2.0531 per share. This represents a $8.21 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is presently 91.94%.

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.