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

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) has been given an average rating of "Hold" by the eight brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $100.9667.

Several equities research analysts have commented on the company. Morgan Stanley restated an "equal weight" rating and issued a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. UBS Group raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Zacks Research cut shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a report on Friday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Finally, Citigroup upgraded Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and raised their target price for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano in the first quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. lifted its stake in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after buying an additional 321 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock worth $38,000 after buying an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Fomento Economico Mexicano in the 2nd quarter worth about $40,000. Finally, Tower Research Capital LLC TRC increased its stake in 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 buying an additional 131 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Price Performance

NYSE:FMX opened at $98.47 on Monday. The firm's fifty day moving average is $90.18 and its two-hundred day moving average is $98.11. The firm has a market cap of $35.23 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 5.77 and a beta of 0.70. 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 has a one year low of $81.07 and a one year high of $108.74.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Research analysts expect that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were given a dividend of $1.3625 per share. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a $5.45 dividend on an annualized basis and a dividend yield of 5.5%. Fomento Economico Mexicano's payout ratio is 74.83%.

Fomento Economico Mexicano Company Profile

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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