Fomento Economico Mexicano (NYSE:FMX) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Fomento Economico Mexicano (NYSE:FMX) from a buy rating to a hold rating in a research note released on Saturday.

Other equities research analysts have also issued reports about the company. UBS Group boosted their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Barclays lifted their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Fomento Economico Mexicano Trading Up 0.7%

Fomento Economico Mexicano stock opened at $129.96 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. The company has a market capitalization of $44.91 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 0.70 and a beta of 0.41. Fomento Economico Mexicano has a one year low of $83.08 and a one year high of $134.52. The company’s fifty day moving average price is $125.33 and its two-hundred day moving average price is $115.43.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. On average, analysts forecast that Fomento Economico Mexicano will post 6.19 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be given a dividend of $1.827 per share. This represents a $7.31 dividend on an annualized basis and a yield of 5.6%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, July 15th. Fomento Economico Mexicano’s payout ratio is presently 92.62%.

Institutional Trading of Fomento Economico Mexicano

Hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Fomento Economico Mexicano during the 1st quarter worth about $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the period. 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. Atlas Capital Advisors Inc. acquired a new stake in Fomento Economico Mexicano during the fourth quarter worth about $50,000. Finally, Brown Brothers Harriman & Co. increased its stake in Fomento Economico Mexicano by 220.8% during the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after acquiring an additional 499 shares during the period. 61.00% of the stock is owned by institutional investors.

About Fomento Economico Mexicano

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.