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

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $129.40.

A number of brokerages recently commented on FMX. Barclays dropped their price target on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. StockNews.com lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds have recently bought and sold shares of FMX. Van ECK Associates Corp lifted its holdings in shares of Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after purchasing an additional 306 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Fomento Económico Mexicano by 5.8% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,507 shares of the company’s stock worth $2,518,000 after acquiring an additional 1,402 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Fomento Económico Mexicano by 201.8% in the third quarter. Assenagon Asset Management S.A. now owns 55,822 shares of the company’s stock worth $5,510,000 after acquiring an additional 37,325 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Fomento Económico Mexicano during the third quarter valued at $2,991,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Fomento Económico Mexicano by 9.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock worth $245,000 after purchasing an additional 204 shares during the last quarter.

Fomento Económico Mexicano Trading Down 1.6 %

NYSE FMX opened at $96.85 on Wednesday. The stock has a market cap of $34.65 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 5.59 and a beta of 0.94. Fomento Económico Mexicano has a fifty-two week low of $95.84 and a fifty-two week high of $143.43. The stock has a 50 day simple moving average of $100.75 and a two-hundred day simple moving average of $109.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 13.55%.

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.