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

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have earned an average recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $113.1667.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. increased their target price on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a report on Monday. Barclays increased their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. UBS Group increased their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd.

Insider Transactions at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,311 shares of the stock in a transaction that occurred on 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 directly owned 1,128,453 shares of the company’s stock, valued at approximately $12,627,389.07. This 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 link. Over the last ninety days, insiders have sold 261,575 shares of company stock valued at $2,795,188. Corporate insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. Value Partners Investments Inc. boosted its stake in Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock worth $13,516,000 after purchasing an additional 41,400 shares during the period. Strs Ohio boosted its stake in Fomento Economico Mexicano by 8.5% in the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after purchasing an additional 25,000 shares during the period. LBP AM SA boosted its stake in Fomento Economico Mexicano by 22.1% in the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after purchasing an additional 93,997 shares during the period. ABS Direct Equity Fund LLC boosted its stake in Fomento Economico Mexicano by 37.6% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock worth $8,901,000 after purchasing an additional 24,650 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Fomento Economico Mexicano by 79.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 143,865 shares of the company’s stock worth $14,189,000 after purchasing an additional 63,865 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Price Performance

NYSE FMX opened at $115.61 on Friday. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $119.21. The firm has a market capitalization of $39.95 billion, a P/E ratio of 40.57, a PEG ratio of 0.86 and a beta of 0.40. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $111.51 and a 200-day moving average price of $103.82.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The firm had revenue of $12.21 billion during the quarter. Equities research analysts anticipate that Fomento Economico Mexicano will post 4.56 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 22nd will be issued a $0.6658 dividend. This represents a $2.66 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is currently 80.00%.

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.