Fomento Económico Mexicano (NYSE:FMX) Price Target Raised to $112.00

Fomento Económico Mexicano (NYSE:FMX) had its target price boosted by UBS Group from $107.00 to $112.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

FMX has been the subject of a number of other reports. Barclays lifted their price target on Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Itau BBA Securities raised shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Fomento Económico Mexicano has an average rating of “Hold” and a consensus target price of $106.70.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $103.28 on Thursday. Fomento Económico Mexicano has a 1-year low of $81.08 and a 1-year high of $120.15. The company has a 50 day moving average of $100.70 and a 200-day moving average of $92.96. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm has a market cap of $36.95 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, equities analysts forecast that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a $1.628 dividend. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 11.41%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC bought a new position in Fomento Económico Mexicano in the first quarter valued at approximately $330,437,000. FMR LLC grew its position in shares of Fomento Económico Mexicano by 540.3% during the 4th quarter. FMR LLC now owns 3,147,544 shares of the company’s stock worth $269,084,000 after buying an additional 2,655,962 shares during the period. First Eagle Investment Management LLC grew its position in shares of Fomento Económico Mexicano by 20.5% during the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock worth $1,081,939,000 after buying an additional 2,150,913 shares during the period. Schroder Investment Management Group increased its stake in shares of Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after acquiring an additional 717,666 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in shares of Fomento Económico Mexicano by 105.4% in the 1st quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after acquiring an additional 570,640 shares during the period. 61.00% of the stock is owned by institutional investors.

About Fomento Económico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.