Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $101.9667.

Several analysts recently commented on FMX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Morgan Stanley restated 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. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their target price for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their target price for the company from $115.00 to $111.00 in a research report on Friday, September 19th. Finally, Barclays decreased their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st.

Fomento Economico Mexicano Stock Down 0.7%

Shares of Fomento Economico Mexicano stock opened at $95.05 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $92.46 and its 200-day simple moving average is $97.72. The stock has a market capitalization of $34.01 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 5.61 and a beta of 0.72. Fomento Economico Mexicano has a twelve month low of $81.07 and a twelve month high of $108.74.

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

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 16th were given a $1.9982 dividend. This represents a $7.99 annualized dividend and a dividend yield of 8.4%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, October 16th. Fomento Economico Mexicano’s payout ratio is 76.19%.

Institutional Trading of Fomento Economico Mexicano

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano in the first quarter worth $29,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fomento Economico Mexicano in the second quarter worth $40,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Fomento Economico 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.