Fomento Economico Mexicano (NYSE:FMX) Sets New 52-Week High – What’s Next?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $126.02 and last traded at $126.1060, with a volume of 174700 shares. The stock had previously closed at $123.65.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays boosted their price objective on Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. The Goldman Sachs Group boosted their price objective 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, UBS Group boosted their price objective on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.17.

Fomento Economico Mexicano Trading Up 2.8%

The firm has a market capitalization of $43.91 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 0.71 and a beta of 0.42. The company has a fifty day moving average price of $118.66 and a two-hundred day moving average price of $109.94. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The business had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. As a group, research analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were given a $0.6658 dividend. This represents a $2.66 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is presently 53.47%.

Insiders Place Their Bets

In related news, Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $11.07, for a total value of $579,138.12. Following the completion of the transaction, the director directly owned 1,233,080 shares in the company, valued at approximately $13,650,195.60. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 261,575 shares of company stock valued at $2,795,188 in the last ninety days. Corporate insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in Fomento Economico Mexicano by 46.3% in the first quarter. NewEdge Advisors LLC now owns 6,016 shares of the company’s stock worth $668,000 after acquiring an additional 1,905 shares during the period. Summitry LLC grew its position in Fomento Economico Mexicano by 3.3% in the first quarter. Summitry LLC now owns 6,606 shares of the company’s stock worth $734,000 after acquiring an additional 208 shares during the period. Groupama Asset Managment grew its position in Fomento Economico Mexicano by 4.1% in the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock worth $512,000 after acquiring an additional 181 shares during the period. Amundi grew its position in Fomento Economico Mexicano by 9.8% in the first quarter. Amundi now owns 613,753 shares of the company’s stock worth $68,163,000 after acquiring an additional 54,786 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Fomento Economico Mexicano by 41.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,875 shares of the company’s stock worth $208,000 after acquiring an additional 545 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.