Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives Average Recommendation of “Hold” from Analysts

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has been given an average recommendation of “Hold” by the nine research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $100.9667.

Several brokerages recently commented on FMX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Saturday, September 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Zacks Research cut Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Barclays reduced their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FMX. Nuveen LLC bought a new position in shares of Fomento Economico Mexicano during the first quarter valued at $330,437,000. Citigroup Inc. lifted its holdings in shares of Fomento Economico Mexicano by 309.6% during the second quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after acquiring an additional 1,296,194 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after buying an additional 570,640 shares during the last quarter. Finally, Altrinsic Global Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 52.4% in the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after buying an additional 324,781 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Trading Down 0.6%

Shares of Fomento Economico Mexicano stock opened at $95.73 on Monday. The company’s fifty day simple moving average is $90.05 and its 200-day simple moving average is $98.04. The company has a market cap of $34.25 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 5.64 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano has a 1 year low of $81.07 and a 1 year high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. As a group, sell-side analysts expect that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a dividend of $1.3625 per share. The ex-dividend date of this dividend was Thursday, July 17th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.73. This represents a $5.45 dividend on an annualized basis and a dividend yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 74.83%.

Fomento Economico Mexicano Company Profile

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.