Fomento Económico Mexicano (NYSE:FMX) Sets New 12-Month Low – Here’s Why

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $85.91 and last traded at $85.91, with a volume of 463976 shares traded. The stock had previously closed at $87.57.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of 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. Barclays decreased their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $128.25.

Fomento Económico Mexicano Price Performance

The firm has a 50 day moving average price of $96.39 and a two-hundred day moving average price of $105.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The company has a market cap of $30.70 billion, a P/E ratio of 22.45, a P/E/G ratio of 5.18 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 12.82%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Fomento Económico Mexicano during the second quarter worth about $51,000. Banque Cantonale Vaudoise purchased a new position in Fomento Económico Mexicano during the 3rd quarter worth $55,000. Van ECK Associates Corp grew its stake in Fomento Económico Mexicano by 61.7% during 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 last quarter. CWM LLC lifted its position in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Fomento Económico Mexicano in the 2nd quarter valued at about $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.