Fomento Economico Mexicano (NYSE:FMX) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) saw unusually-strong trading volume on Thursday . Approximately 534,406 shares traded hands during mid-day trading, an increase of 37% from the previous session’s volume of 390,047 shares.The stock last traded at $104.1550 and had previously closed at $103.85.

Analysts Set New Price Targets

FMX has been the topic of a number of research reports. Barclays lowered their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Trading Down 1.2%

The firm has a market cap of $36.84 billion, a PE ratio of 41.01, a PEG ratio of 4.01 and a beta of 0.46. The firm has a fifty day simple moving average of $99.69 and a two-hundred day simple moving average of $95.67. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $215.60 billion. Equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Friday, January 16th will be issued a $2.0531 dividend. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 8.1%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 90.32%.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Fomento Economico Mexicano in the second quarter worth $40,000. Tower Research Capital LLC TRC grew its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the period. Finally, Mather Group LLC. bought a new position in Fomento Economico Mexicano in the third quarter worth $54,000. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.