Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $102.00

Fomento Economico Mexicano (NYSE:FMX) had its price target raised by JPMorgan Chase & Co. from $96.00 to $102.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. Morgan Stanley restated an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Zacks Research lowered Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a report on Friday, September 5th. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.97.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $96.03 on Monday. The firm has a market cap of $34.36 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 5.45 and a beta of 0.72. The stock’s 50-day moving average is $91.58 and its 200-day moving average is $97.67. Fomento Economico Mexicano has a one year low of $81.07 and a one year high of $108.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.49). The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. Equities analysts predict that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be given a dividend of $1.9982 per share. This represents a $7.99 dividend on an annualized basis and a yield of 8.3%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Thursday, October 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 76.19%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Stephens Inc. AR grew its position in Fomento Economico Mexicano by 2.1% during the first quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after buying an additional 121 shares in the last quarter. Park Avenue Securities LLC grew its position in Fomento Economico Mexicano by 4.6% during the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after buying an additional 125 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Fomento Economico Mexicano by 25.3% in the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico 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.