Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Price Target at $110.67

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received a consensus rating of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $110.6667.

A number of research firms recently commented on FMX. UBS Group increased their price target on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Barclays upped their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, The Goldman Sachs Group raised their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th.

Insider Activity at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $10.31, for a total transaction of $539,377.96. Following the transaction, the director owned 1,337,712 shares of the company’s stock, valued at $13,791,810.72. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 156,948 shares of company stock worth $1,630,690. 5.68% of the stock is owned by company insiders.

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently modified their holdings of FMX. Northwestern Mutual Wealth Management Co. increased its position in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Fomento Economico Mexicano during the second quarter worth about $40,000. Tower Research Capital LLC TRC raised its position in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Fomento Economico Mexicano in the fourth quarter worth about $50,000. Finally, Mather Group LLC. purchased a new position in Fomento Economico Mexicano in the third quarter valued at about $54,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Price Performance

FMX stock opened at $107.74 on Monday. The company has a market capitalization of $37.23 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 0.78 and a beta of 0.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $116.09. The business has a 50-day simple moving average of $108.77 and a two-hundred day simple moving average of $101.30.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.36 EPS for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion during the quarter. Research analysts expect that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

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 is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 7.6%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 79.65%.

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.