Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $137.17 Average PT from Analysts

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $137.1667.

Several equities research analysts recently weighed in on the company. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. UBS Group reaffirmed a “neutral” rating and issued a $139.00 target price on shares of Fomento Economico Mexicano in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th.

Fomento Economico Mexicano Trading Down 0.0%

NYSE:FMX opened at $118.71 on Monday. The company has a market capitalization of $41.02 billion, a PE ratio of 23.74, a P/E/G ratio of 0.63 and a beta of 0.40. Fomento Economico Mexicano has a 52-week low of $90.87 and a 52-week high of $141.47. The stock’s 50 day moving average price is $122.81 and its 200 day moving average price is $119.91. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. On average, research analysts anticipate that Fomento Economico Mexicano will post 6.35 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were paid a $1.827 dividend. This represents a $7.31 dividend on an annualized basis and a dividend yield of 6.2%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 48.60%.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Michael David Kahn acquired 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the acquisition, the director directly owned 2,100 shares of the company’s stock, valued at approximately $248,073. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 5.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fomento Economico Mexicano

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its stake in shares of Fomento Economico Mexicano by 11.4% in the second quarter. Tidal Investments LLC now owns 8,778 shares of the company’s stock valued at $1,123,000 after purchasing an additional 896 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Fomento Economico Mexicano in the 2nd quarter valued at approximately $217,000. NewEdge Advisors LLC raised its holdings in Fomento Economico Mexicano by 30.9% during the second quarter. NewEdge Advisors LLC now owns 7,872 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,856 shares during the last quarter. IFP Advisors Inc acquired a new position in Fomento Economico Mexicano during the second quarter worth $118,000. Finally, Squarepoint Ops LLC purchased a new stake in Fomento Economico Mexicano during the second quarter worth $705,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based company with operations spanning beverage production and distribution, retail, and digital services. Through Coca-Cola FEMSA, the company produces, markets, sells and distributes products under The Coca-Cola Company portfolio, including sparkling beverages, water, sports drinks and other nonalcoholic beverages.

FEMSA also operates a broad network of convenience stores under the OXXO brand. Its retail activities include the sale of packaged food, beverages, tobacco products, personal-care items and other everyday goods, as well as services such as bill payment and financial transactions.