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

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $113.1667.

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a report on Monday. Barclays lifted their price target on 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. UBS Group lifted their price target on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. The Goldman Sachs Group lifted their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Tuesday.

Insider Activity

In other news, Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $11.19, for a total value of $585,360.09. Following the sale, the director directly owned 1,128,453 shares of the company’s stock, valued at $12,627,389.07. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 261,575 shares of company stock valued at $2,795,188 over the last quarter. Insiders own 5.68% of the company’s stock.

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors have recently made changes to their positions in FMX. Patriot Financial Group Insurance Agency LLC lifted its position in Fomento Economico Mexicano by 110.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 7,722 shares of the company’s stock worth $858,000 after buying an additional 4,061 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Fomento Economico Mexicano by 3,193.0% during the first quarter. Janney Montgomery Scott LLC now owns 78,605 shares of the company’s stock worth $8,730,000 after buying an additional 76,218 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in Fomento Economico Mexicano by 15.5% during the first quarter. Aaron Wealth Advisors LLC now owns 2,554 shares of the company’s stock worth $284,000 after buying an additional 342 shares in the last quarter. SG Americas Securities LLC lifted its position in Fomento Economico Mexicano by 95.9% during the first quarter. SG Americas Securities LLC now owns 13,788 shares of the company’s stock worth $1,531,000 after buying an additional 6,750 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Fomento Economico Mexicano by 5.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,433 shares of the company’s stock worth $1,459,000 after buying an additional 733 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Up 0.1%

Shares of FMX opened at $113.71 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano has a 12 month low of $83.08 and a 12 month high of $119.21. The stock’s 50 day moving average is $111.54 and its two-hundred day moving average is $103.96. The firm has a market cap of $39.29 billion, a P/E ratio of 39.90, a PEG ratio of 0.78 and a beta of 0.40.

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 company had revenue of $12.21 billion for the quarter. Analysts predict that Fomento Economico Mexicano will post 4.87 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be paid a $0.6658 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.3%. Fomento Economico Mexicano’s payout ratio is currently 82.11%.

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.