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

Key Points

• Fomento Economico Mexicano (NYSE:FMX) has received a consensus rating of "Hold" from nine research firms, with a target price averaging $101.97.
• The company recently announced a quarterly dividend increase, raising it from $1.36 to $1.9982 per share, resulting in an annualized yield of 8.3%.
• FMX reported earnings per share of $0.42 in its last quarter, which was below analysts' expectations of $0.91, alongside a revenue of $11.27 billion.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) has been assigned a consensus rating of "Hold" from the nine research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $101.9667.

FMX has been the topic of a number of research analyst reports. Citigroup raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their price target for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th. Morgan Stanley reissued an "equal weight" rating and issued a $97.00 price target (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. UBS Group raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and dropped their price target for the company from $115.00 to $111.00 in a research note on Friday, September 19th. JPMorgan Chase & Co. lifted their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fomento Economico Mexicano during the 1st quarter worth $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock worth $35,000 after acquiring an additional 321 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock worth $38,000 after acquiring an additional 108 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth $40,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock worth $45,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $96.70 on Friday. The company's fifty day moving average price is $91.83 and its 200 day moving average price is $97.70. Fomento Economico Mexicano has a 1 year low of $81.07 and a 1 year high of $108.74. The stock has a market capitalization of $34.60 billion, a P/E ratio of 32.89, a P/E/G ratio of 5.62 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) 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 company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. As a group, equities research analysts anticipate that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be paid a dividend of $1.9982 per share. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $7.99 annualized dividend and a yield of 8.3%. Fomento Economico Mexicano's dividend payout ratio is presently 243.88%.

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.

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