Fomento Económico Mexicano (NYSE:FMX) Sets New 12-Month Low – Time to Sell?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $94.95 and last traded at $95.62, with a volume of 12827 shares. The stock had previously closed at $96.80.

Analyst Ratings Changes

FMX has been the subject of a number of research reports. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays reduced their price objective on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.40.

Fomento Económico Mexicano Stock Down 1.4 %

The firm has a market capitalization of $34.16 billion, a P/E ratio of 26.25, a P/E/G ratio of 5.59 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 stock’s 50-day simple moving average is $100.75 and its 200-day simple moving average is $109.06.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a $0.864 dividend. 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 13.55%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several institutional investors have recently modified their holdings of FMX. Park Place Capital Corp grew its position in Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano during the 2nd quarter valued at approximately $51,000. Van ECK Associates Corp lifted its holdings in Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after buying an additional 306 shares during the period. CWM LLC grew its position in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after buying an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Fomento Económico Mexicano during the second quarter valued at approximately $163,000.

Fomento Económico 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.