Fomento Economico Mexicano (NYSE:FMX) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Fomento Economico Mexicano (NYSE:FMX) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

FMX has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the company from $125.00 to $150.00 in a research report on Tuesday. UBS Group raised their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Fomento Economico Mexicano in a research report on Tuesday. 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. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and an average price target of $127.12.

Fomento Economico Mexicano Stock Performance

FMX stock opened at $124.28 on Tuesday. Fomento Economico Mexicano has a one year low of $83.08 and a one year high of $141.47. The firm has a market cap of $42.95 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 0.69 and a beta of 0.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a 50-day simple moving average of $126.55 and a two-hundred day simple moving average of $117.56.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The firm had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. On average, equities analysts forecast that Fomento Economico Mexicano will post 6.09 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were given a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.9%. The ex-dividend date was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 48.60%.

Institutional Trading of Fomento Economico Mexicano

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

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.