Fomento Económico Mexicano (NYSE:FMX) Lowered to “Equal Weight” Rating by Barclays

Barclays lowered shares of Fomento Económico Mexicano (NYSE:FMX) from an overweight rating to an equal weight rating in a report released on Tuesday, Marketbeat.com reports.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $126.33.

Fomento Económico Mexicano Trading Down 0.6 %

Shares of NYSE FMX opened at $83.94 on Tuesday. The stock’s 50 day moving average price is $86.70 and its two-hundred day moving average price is $98.06. Fomento Económico Mexicano has a 52-week low of $81.07 and a 52-week high of $143.43. The stock has a market capitalization of $30.03 billion, a P/E ratio of 21.52, a PEG ratio of 4.90 and a beta of 0.90. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 20.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Fomento Económico Mexicano by 267.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock valued at $30,956,000 after purchasing an additional 228,284 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Fomento Económico Mexicano in the third quarter worth about $19,856,000. Finally, Millennium Management LLC lifted its position in shares of Fomento Económico Mexicano by 577.6% during the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock worth $23,948,000 after purchasing an additional 189,632 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

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.