Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives Consensus Recommendation of “Hold” from Brokerages

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $128.25.

A number of research firms recently commented on FMX. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays lowered their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. Manning & Napier Advisors LLC bought a new stake in shares of Fomento Económico Mexicano during the second quarter valued at approximately $2,994,000. Klein Pavlis & Peasley Financial Inc. increased its holdings in Fomento Económico Mexicano by 29.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after acquiring an additional 5,505 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Fomento Económico Mexicano in the 3rd quarter valued at $7,672,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after purchasing an additional 416,000 shares during the last quarter. Finally, Perpetual Ltd grew its position in shares of Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after purchasing an additional 64,291 shares in the last quarter.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $86.64 on Friday. Fomento Económico Mexicano has a fifty-two week low of $86.13 and a fifty-two week high of $143.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 5.23 and a beta of 0.94. The firm’s 50-day simple moving average is $97.35 and its 200 day simple moving average is $106.26.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 12.82%.

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.