Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Fomento Economico Mexicano, with four hold ratings and three buys. The average 12-month price target is $135.67 versus a recent share price of $118.84.
• Recent analyst actions have generally been cautious, including downgrades from Wall Street Zen and Zacks Research and UBS lowering its price target to $130, while Deutsche Bank set a higher $150 target.
• FEMSA announced a reduced quarterly dividend of $1.7804, equivalent to an annualized $7.12 and a 6.0% yield. Institutional investors own approximately 61% of the company, while insiders own 5.68%.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) has earned an average rating of "Hold" from the seven analysts that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $135.67.

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Zacks Research lowered Fomento Economico Mexicano from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. UBS Group cut their target price on Fomento Economico Mexicano from $139.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a research report on Tuesday, August 4th.

Insider Buying and Selling at Fomento Economico Mexicano

In other news, Director Michael David Kahn acquired 2,100 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the acquisition, the director owned 2,100 shares of the company's stock, valued at $248,073. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.68% of the company's stock.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Fomento Economico Mexicano by 79.2% in the 3rd quarter. GAMMA Investing LLC now owns 396 shares of the company's stock valued at $47,000 after purchasing an additional 175 shares during the last quarter. QRG Capital Management Inc. grew its position in Fomento Economico Mexicano by 33.3% during the 2nd quarter. QRG Capital Management Inc. now owns 2,557 shares of the company's stock worth $327,000 after purchasing an additional 639 shares during the last quarter. Tidal Investments LLC grew its position in Fomento Economico Mexicano by 11.4% during the 2nd quarter. Tidal Investments LLC now owns 8,778 shares of the company's stock worth $1,123,000 after purchasing an additional 896 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Fomento Economico Mexicano in the second quarter valued at $217,000. Finally, NewEdge Advisors LLC increased its stake in Fomento Economico Mexicano by 30.9% in the second quarter. NewEdge Advisors LLC now owns 7,872 shares of the company's stock valued at $1,007,000 after purchasing an additional 1,856 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $118.84 on Friday. The company has a market capitalization of $41.06 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. Fomento Economico Mexicano has a 52-week low of $90.87 and a 52-week high of $141.47. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $119.90 and a 200 day moving average price of $120.96.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The company had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. Research analysts predict that Fomento Economico Mexicano will post 6.35 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be paid a $1.7804 dividend. This is a decrease from Fomento Economico Mexicano's previous quarterly dividend of $1.8270. This represents a $7.12 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, October 14th. 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 Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.

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