Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $131.4286.

Several research firms recently commented on FMX. Weiss Ratings downgraded shares of Fomento Economico Mexicano from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday. Barclays upped their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their price target for the company from $125.00 to $150.00 in a research note on Tuesday, August 4th. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group reissued a “neutral” rating and issued a $139.00 price objective on shares of Fomento Economico Mexicano in a research note on Thursday, August 6th.

Insider Activity at Fomento Economico Mexicano

In related news, Director Michael David Kahn purchased 2,100 shares of Fomento Economico Mexicano stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the transaction, the director owned 2,100 shares of the company’s stock, valued at approximately $248,073. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Fomento Economico Mexicano

Hedge funds have recently made changes to their positions in the stock. INCA Investments LLC increased its stake in Fomento Economico Mexicano by 6.9% in the fourth quarter. INCA Investments LLC now owns 395,261 shares of the company’s stock valued at $39,949,000 after purchasing an additional 25,536 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Fomento Economico Mexicano during the fourth quarter valued at about $1,137,000. Madison Asset Management LLC bought a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth about $1,727,000. Sei Investments Co. boosted its position in shares of Fomento Economico Mexicano by 13.1% during the 1st quarter. Sei Investments Co. now owns 236,168 shares of the company’s stock worth $26,229,000 after purchasing an additional 27,439 shares in the last quarter. Finally, Amundi grew its stake in shares of Fomento Economico Mexicano by 9.8% in the 1st quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after buying an additional 54,786 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $121.92 on Thursday. The business’s 50-day moving average price is $125.55 and its 200-day moving average price is $118.82. Fomento Economico Mexicano has a 12 month low of $83.33 and a 12 month high of $141.47. The firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 0.67 and a beta of 0.40. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The company had revenue of $13.20 billion for the quarter. Equities research analysts forecast that Fomento Economico Mexicano will post 6.09 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.827 per share. This represents a $7.31 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Wednesday, July 15th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 48.60%.

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.