Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) PT at $114.33

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $114.3333.

Several equities research analysts have weighed in on FMX shares. UBS Group raised their price objective on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, March 20th. JPMorgan Chase & Co. raised their price objective on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group raised their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total value of $585,360.09. Following the completion of the sale, the director owned 1,128,453 shares in the company, valued at approximately $12,627,389.07. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 261,575 shares of company stock valued at $2,795,188. Company insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Fomento Economico Mexicano during the 4th quarter worth approximately $50,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after buying an additional 499 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Up 0.8%

Shares of FMX stock opened at $122.40 on Tuesday. Fomento Economico Mexicano has a 12-month low of $83.08 and a 12-month high of $125.71. The company has a market capitalization of $42.29 billion, a P/E ratio of 27.38, a P/E/G ratio of 0.83 and a beta of 0.42. The firm has a 50-day moving average price of $113.67 and a 200 day moving average price of $106.70. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The firm had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. Research analysts forecast that Fomento Economico Mexicano will post 4.87 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd were given a $0.6658 dividend. This represents a $2.66 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 53.47%.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.