Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Average Rating of “Hold” by Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have earned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $139.50.

A number of research firms have recently commented on FMX. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Barclays reduced their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, July 15th.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds have recently modified their holdings of FMX. Baillie Gifford & Co. grew its holdings in Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after buying an additional 344,815 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Fomento Económico Mexicano by 3.8% during the fourth quarter. Schroder Investment Management Group now owns 2,583,664 shares of the company’s stock worth $336,781,000 after buying an additional 94,199 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in shares of Fomento Económico Mexicano by 19.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock valued at $123,169,000 after acquiring an additional 153,771 shares during the period. Black Creek Investment Management Inc. grew its stake in shares of Fomento Económico Mexicano by 15.5% in the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after acquiring an additional 121,800 shares in the last quarter. Finally, LA Financiere DE L Echiquier grew its stake in shares of Fomento Económico Mexicano by 22.1% in the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after acquiring an additional 140,309 shares in the last quarter.

Fomento Económico Mexicano Stock Down 0.1 %

FMX stock opened at $101.96 on Tuesday. The business has a 50-day moving average of $109.66 and a 200-day moving average of $116.08. Fomento Económico Mexicano has a fifty-two week low of $99.24 and a fifty-two week high of $143.43. The stock has a market capitalization of $36.48 billion, a P/E ratio of 27.63, a P/E/G ratio of 4.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, sell-side analysts anticipate that Fomento Económico Mexicano will post 5.12 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 17th were issued a dividend of $1.0206 per share. The ex-dividend date of this dividend was Wednesday, July 17th. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s payout ratio is presently 14.36%.

About Fomento Económico 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.