Fomento Economico Mexicano's (FMX) "Equal Weight" Rating Reiterated at Morgan Stanley

Key Points

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Morgan Stanley reiterated their equal weight rating on shares of Fomento Economico Mexicano (NYSE:FMX - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage currently has a $97.00 target price on the stock, down from their prior target price of $132.00.

FMX has been the subject of a number of other reports. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Barclays cut their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Finally, UBS Group upped their price target on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $105.16.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock traded up $1.8470 on Tuesday, reaching $88.8470. 1,078,061 shares of the company traded hands, compared to its average volume of 1,279,475. The company has a 50 day moving average of $95.97 and a 200 day moving average of $98.34. The firm has a market capitalization of $31.79 billion, a PE ratio of 30.22, a PEG ratio of 5.20 and a beta of 0.66. Fomento Economico Mexicano has a 52 week low of $81.07 and a 52 week high of $109.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. Equities analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were issued a dividend of $1.3625 per share. The ex-dividend date of this dividend was Thursday, July 17th. This represents a dividend yield of 200.0%. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's payout ratio is presently 74.83%.

Institutional Trading of Fomento Economico Mexicano

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in shares of Fomento Economico Mexicano during the 1st quarter worth $207,000. Crossmark Global Holdings Inc. lifted its stake in Fomento Economico Mexicano by 29.3% in the first quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock worth $2,572,000 after purchasing an additional 5,977 shares during the last quarter. Cerity Partners LLC lifted its stake in Fomento Economico Mexicano by 25.4% in the first quarter. Cerity Partners LLC now owns 13,778 shares of the company's stock worth $1,344,000 after purchasing an additional 2,795 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Fomento Economico Mexicano by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock worth $2,405,000 after purchasing an additional 4,096 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Fomento Economico Mexicano by 27,873.3% in the first quarter. GAMMA Investing LLC now owns 20,980 shares of the company's stock worth $2,047,000 after purchasing an additional 20,905 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.