Fomento Económico Mexicano (NYSE:FMX) Trading Up 5.6% – What’s Next?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s stock price was up 5.6% during mid-day trading on Thursday . The company traded as high as $96.85 and last traded at $94.49. Approximately 130,285 shares traded hands during trading, a decline of 73% from the average daily volume of 489,451 shares. The stock had previously closed at $89.47.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FMX shares. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays lowered shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a 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 research note on Tuesday, January 28th.

Fomento Económico Mexicano Stock Up 4.5 %

The stock’s fifty day moving average is $86.31 and its two-hundred day moving average is $93.78. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $33.45 billion, a PE ratio of 23.96, a P/E/G ratio of 5.26 and a beta of 0.90.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a dividend of $0.9201 per share. The ex-dividend date was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 11.79%.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Talaria Asset Management Pty Ltd bought a new position in Fomento Económico Mexicano in the 4th quarter worth approximately $47,110,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Fomento Económico Mexicano by 6.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 213,843 shares of the company’s stock worth $18,281,000 after acquiring an additional 12,689 shares during the period. Vise Technologies Inc. purchased a new position in shares of Fomento Económico Mexicano in the fourth quarter valued at $301,000. Voloridge Investment Management LLC raised its stake in shares of Fomento Económico Mexicano by 45.8% during the 4th quarter. Voloridge Investment Management LLC now owns 51,038 shares of the company’s stock valued at $4,363,000 after purchasing an additional 16,038 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Fomento Económico Mexicano by 5.5% during the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company’s stock worth $450,454,000 after purchasing an additional 274,467 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

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.