Fomento Economico Mexicano (NYSE:FMX) Hits New 52-Week High – Time to Buy?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $110.61 and last traded at $110.54, with a volume of 611023 shares changing hands. The stock had previously closed at $107.32.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FMX. Barclays dropped their price objective on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus price target of $102.40.

Fomento Economico Mexicano Price Performance

The company has a fifty day simple moving average of $103.17 and a 200 day simple moving average of $96.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The stock has a market capitalization of $39.55 billion, a price-to-earnings ratio of 44.57, a P/E/G ratio of 4.10 and a beta of 0.44.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a $2.0531 dividend. This represents a $8.21 dividend on an annualized basis and a yield of 7.4%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. Fomento Economico Mexicano’s payout ratio is 91.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. raised its holdings in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Fomento Economico Mexicano in the 2nd quarter worth about $40,000. Tower Research Capital LLC TRC raised its position in shares of Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the last quarter. Mather Group LLC. purchased a new stake in Fomento Economico Mexicano during the 3rd quarter valued at about $54,000. Finally, Brown Brothers Harriman & Co. increased its stake in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after purchasing an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.