Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Price Target at $119.50

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $119.50.

FMX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. UBS Group upped their price objective on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. 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. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after acquiring an additional 131 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Fomento Economico Mexicano during the fourth quarter worth $50,000. Finally, Brown Brothers Harriman & Co. raised its position in Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Down 3.7%

Fomento Economico Mexicano stock opened at $127.29 on Friday. The stock has a 50 day moving average of $126.12 and a two-hundred day moving average of $116.61. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $141.47. The stock has a market capitalization of $43.98 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 0.71 and a beta of 0.41. 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 released its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.The business had revenue of $13.20 billion for the quarter. As a group, research analysts expect that Fomento Economico Mexicano will post 6.19 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were given a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a yield of 5.7%. Fomento Economico Mexicano’s payout ratio is 54.36%.

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.