Fomento Económico Mexicano (NYSE:FMX) Price Target Lowered to $118.00 at Barclays

Fomento Económico Mexicano (NYSE:FMX) had its price target trimmed by Barclays from $125.00 to $118.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on FMX. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $128.00.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $96.74 on Wednesday. The stock has a market capitalization of $34.61 billion, a P/E ratio of 24.81, a PEG ratio of 5.47 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $100.10 and its 200 day moving average is $108.63. Fomento Económico Mexicano has a 12 month low of $94.86 and a 12 month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were given a dividend of $0.864 per share. This represents a dividend yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 12.82%.

Institutional Trading of Fomento Económico Mexicano

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in shares of Fomento Económico Mexicano by 9.0% during 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. ANTIPODES PARTNERS Ltd grew its holdings in shares of Fomento Económico Mexicano by 19.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock valued at $123,169,000 after purchasing an additional 153,771 shares during the last quarter. Black Creek Investment Management Inc. grew its holdings in shares of Fomento Económico Mexicano by 15.5% during the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after purchasing an additional 121,800 shares during the last quarter. LA Financiere DE L Echiquier grew its holdings in shares of Fomento Económico Mexicano by 22.1% during the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after purchasing an additional 140,309 shares during the last quarter. Finally, Perpetual Ltd grew its holdings in shares of Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after purchasing an additional 64,291 shares during the last quarter.

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.