Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives Average Rating of “Hold” from Analysts

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have received an average recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $119.20.

A number of research firms have commented on FMX. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group reduced their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday.

Fomento Económico Mexicano Stock Up 0.7 %

Shares of Fomento Económico Mexicano stock opened at $87.24 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $143.43. The firm has a market capitalization of $31.21 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 4.87 and a beta of 0.90. The stock’s fifty day moving average is $86.28 and its 200-day moving average is $97.06.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were given a $0.9201 dividend. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is presently 20.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FMX. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Fomento Económico Mexicano during the third quarter valued at approximately $7,672,000. BNP Paribas Financial Markets raised its holdings in shares of Fomento Económico Mexicano by 107.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after purchasing an additional 169,184 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised 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 in the last quarter. Perpetual Ltd lifted its stake in shares of Fomento Económico Mexicano by 9.4% in the 3rd 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 during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.