UBS Group Cuts Fomento Economico Mexicano (NYSE:FMX) Price Target to $130.00

Fomento Economico Mexicano (NYSE:FMX) had its price objective reduced by UBS Group from $139.00 to $130.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective 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. Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Fomento Economico Mexicano in a research note on Tuesday, August 4th. Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their target price for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Finally, Barclays boosted their price target on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and a consensus target price of $135.67.

Fomento Economico Mexicano Price Performance

NYSE FMX opened at $115.57 on Thursday. The business has a 50 day simple moving average of $120.64 and a 200 day simple moving average of $120.51. Fomento Economico Mexicano has a 52-week low of $90.87 and a 52-week high of $141.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market cap of $39.94 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.62 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The firm had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. Analysts anticipate that Fomento Economico Mexicano will post 6.35 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be paid a $1.7804 dividend. This is a negative change from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. This represents a $7.12 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Wednesday, October 14th. Fomento Economico Mexicano’s dividend payout ratio is 48.60%.

Insider Buying and Selling at Fomento Economico Mexicano

In related news, Director Michael David Kahn purchased 2,100 shares of the stock in a transaction 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 transaction, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several large investors have recently made changes to their positions in the stock. Cook & Bynum Capital Management LLC bought a new position in shares of Fomento Economico Mexicano in the 2nd quarter valued at $29,857,616. Royal Bank of Canada raised its holdings in shares of Fomento Economico Mexicano by 3.2% during the 1st quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after buying an additional 193,432 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth $18,937,000. USS Investment Management Ltd lifted its position in shares of Fomento Economico Mexicano by 44.9% during the 1st quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock worth $51,386,000 after buying an additional 143,430 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Fomento Economico Mexicano by 3,193.0% in the first quarter. Janney Montgomery Scott LLC now owns 78,605 shares of the company’s stock valued at $8,730,000 after buying an additional 76,218 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.