Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Target Price at $137.17

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have earned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $137.1667.

FMX has been the subject of a number of analyst reports. UBS Group reissued a “neutral” rating and issued a $139.00 price target on shares of Fomento Economico Mexicano in a report on Thursday, August 6th. Zacks Research downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upped their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their target price for the company from $125.00 to $150.00 in a research note on Tuesday, August 4th.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $121.08 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The company’s fifty day moving average price is $123.12 and its two-hundred day moving average price is $119.81. The firm has a market capitalization of $41.84 billion, a P/E ratio of 24.22, a P/E/G ratio of 0.65 and a beta of 0.40. Fomento Economico Mexicano has a 12 month low of $90.87 and a 12 month high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The company had revenue of $13.20 billion during the quarter. On average, research analysts anticipate that Fomento Economico Mexicano will post 6.35 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a $1.827 dividend. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio is currently 48.60%.

Insider Buying and Selling

In related news, Director Michael David Kahn acquired 2,100 shares of Fomento Economico Mexicano stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the purchase, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after purchasing an additional 193,432 shares in the last quarter. Amundi raised its stake in Fomento Economico Mexicano by 9.8% during the first quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after buying an additional 54,786 shares in the last quarter. USS Investment Management Ltd raised its stake in Fomento Economico Mexicano by 44.9% during the first quarter. USS Investment Management Ltd now owns 462,624 shares of the company’s stock valued at $51,386,000 after buying an additional 143,430 shares in the last quarter. Cook & Bynum Capital Management LLC bought a new position in Fomento Economico Mexicano during the 2nd quarter worth approximately $29,857,616. Finally, Sei Investments Co. lifted its holdings in Fomento Economico Mexicano by 13.1% during the 1st quarter. Sei Investments Co. now owns 236,168 shares of the company’s stock worth $26,229,000 after buying an additional 27,439 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based company with operations spanning beverage production and distribution, retail, and digital services. Through Coca-Cola FEMSA, the company produces, markets, sells and distributes products under The Coca-Cola Company portfolio, including sparkling beverages, water, sports drinks and other nonalcoholic beverages.

FEMSA also operates a broad network of convenience stores under the OXXO brand. Its retail activities include the sale of packaged food, beverages, tobacco products, personal-care items and other everyday goods, as well as services such as bill payment and financial transactions.