Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $101.63 Average Price Target from Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $101.6333.

A number of analysts have weighed in on FMX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Barclays dropped their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their target price for the company from $115.00 to $111.00 in a research report on Friday, September 19th.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. Park Avenue Securities LLC grew its stake in shares of Fomento Economico Mexicano by 4.6% in the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after purchasing an additional 125 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 valued at $45,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. raised its position in Fomento Economico Mexicano by 25.3% during the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after purchasing an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Fomento Economico Mexicano by 16.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,357 shares of the company’s stock worth $135,000 after purchasing an additional 187 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock opened at $103.16 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market cap of $36.56 billion, a PE ratio of 41.60, a P/E/G ratio of 3.98 and a beta of 0.46. Fomento Economico Mexicano has a 12-month low of $81.93 and a 12-month high of $108.74. The business’s 50-day moving average price is $99.18 and its two-hundred day moving average price is $95.57.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. As a group, analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be paid a $2.0531 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, January 16th. Fomento Economico Mexicano’s payout ratio is currently 90.32%.

Fomento Economico Mexicano Company Profile

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.