Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Average Recommendation of “Hold” by Brokerages

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has earned a consensus rating of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $103.95.

A number of equities analysts have commented on the company. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday. Barclays increased their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group reduced their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group raised their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, March 14th.

Fomento Económico Mexicano Stock Performance

Shares of Fomento Económico Mexicano stock traded down $3.17 on Monday, hitting $93.64. The stock had a trading volume of 110,937 shares, compared to its average volume of 626,311. The stock has a market cap of $33.50 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. 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 twelve month low of $81.08 and a twelve month high of $130.00. The business’s 50 day moving average is $93.27 and its two-hundred day moving average is $92.16.

Fomento Económico Mexicano (NYSE:FMX) last announced its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The business had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Analysts forecast that Fomento Económico Mexicano will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company 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. 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 currently 11.03%.

Institutional Trading of Fomento Económico Mexicano

Hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC bought a new stake in Fomento Económico Mexicano during the 4th quarter worth approximately $225,000. Sarasin & Partners LLP grew its position in shares of Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock valued at $1,710,000 after buying an additional 5,000 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Fomento Económico Mexicano by 141.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock valued at $11,541,000 after buying an additional 79,181 shares during the period. Stifel Financial Corp raised its position in shares of Fomento Económico Mexicano by 1.2% during the third quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after acquiring an additional 149 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Fomento Económico Mexicano by 1.9% in the fourth quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock valued at $21,389,000 after acquiring an additional 4,674 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

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.