Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives $126.33 Consensus Price Target from Analysts

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $126.33.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $104.00 to $109.00 in a report on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays lowered their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Fomento Económico Mexicano in the 2nd quarter valued at $51,000. Banque Cantonale Vaudoise bought a new position in Fomento Económico Mexicano in the third quarter valued at about $55,000. Van ECK Associates Corp grew its position in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares during the last quarter. CWM LLC raised its stake in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares in the last quarter. Finally, Fielder Capital Group LLC bought a new position in shares of Fomento Económico Mexicano in the second quarter worth about $242,000. 61.00% of the stock is owned by institutional investors.

Fomento Económico Mexicano Trading Down 1.8 %

Shares of Fomento Económico Mexicano stock opened at $86.80 on Thursday. Fomento Económico Mexicano has a 52-week low of $85.30 and a 52-week high of $143.43. The stock has a market cap of $31.06 billion, a PE ratio of 22.26, a PEG ratio of 5.23 and a beta of 0.90. The firm has a 50-day moving average of $92.83 and a 200-day moving average of $102.17. 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 company also recently declared an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued 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 presently 12.82%.

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.