Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives $119.20 Average Price Target from Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $119.20.

Several brokerages have issued reports on FMX. The Goldman Sachs Group cut 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. Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th.

Institutional Trading of Fomento Económico Mexicano

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group increased its position in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Fomento Económico Mexicano in the third quarter worth $55,000. Mather Group LLC. lifted its holdings in shares of Fomento Económico Mexicano by 179.1% in the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after buying an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Fomento Económico Mexicano in the 4th quarter valued at $51,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after buying an additional 176 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Down 2.3 %

Shares of NYSE FMX opened at $85.29 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The firm has a 50 day moving average price of $86.26 and a 200 day moving average price of $96.64. Fomento Económico Mexicano has a 52-week low of $81.07 and a 52-week high of $143.43. The stock has a market cap of $30.52 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.00 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.79%.

Fomento Económico 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.