Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives $126.33 Consensus Price Target from Brokerages

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has been given an average rating of “Hold” by the five brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $126.33.

A number of equities research analysts have issued reports on the stock. 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 price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Fomento Económico Mexicano in the 2nd quarter worth about $51,000. Banque Cantonale Vaudoise bought a new position in shares of Fomento Económico Mexicano in the third quarter worth approximately $55,000. Van ECK Associates Corp grew its holdings in shares of Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares during the last quarter. CWM LLC raised its holdings in Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the last quarter. Finally, Fielder Capital Group LLC bought a new position in Fomento Económico Mexicano in the 2nd quarter valued at approximately $242,000. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Stock Performance

NYSE:FMX opened at $88.68 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano has a fifty-two week low of $85.30 and a fifty-two week high of $143.43. The business has a 50 day moving average price of $93.52 and a 200-day moving average price of $102.76. The firm has a market cap of $31.73 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90.

Fomento Económico Mexicano Cuts Dividend

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