Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $128.00 at The Goldman Sachs Group

Fomento Economico Mexicano (NYSE:FMX) had its price objective raised by The Goldman Sachs Group from $113.00 to $128.00 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities analysts have also weighed in on FMX. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, Barclays upped their price objective on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $108.50.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $113.07 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. Fomento Economico Mexicano has a one year low of $83.08 and a one year high of $113.63. The business’s 50-day moving average price is $103.92 and its two-hundred day moving average price is $96.38.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a $2.0531 dividend. This represents a $8.21 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, January 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 91.94%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio lifted its position in Fomento Economico Mexicano by 8.5% in the third quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after purchasing an additional 25,000 shares during the period. Value Partners Investments Inc. raised its stake in shares of Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock valued at $13,516,000 after buying an additional 41,400 shares in the last quarter. LBP AM SA raised its stake in shares of Fomento Economico Mexicano by 22.1% in the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock valued at $51,143,000 after buying an additional 93,997 shares in the last quarter. INCA Investments LLC lifted its holdings in shares of Fomento Economico Mexicano by 106.1% during the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock worth $28,296,000 after acquiring an additional 141,419 shares during the period. Finally, Barings LLC boosted its position in shares of Fomento Economico Mexicano by 31.7% during the 2nd quarter. Barings LLC now owns 72,617 shares of the company’s stock valued at $7,478,000 after acquiring an additional 17,488 shares in 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 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.