Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $110.67 Consensus Target Price from Analysts

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $110.6667.

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Barclays lifted their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. UBS Group increased their price target on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $10.31, for a total value of $539,377.96. Following the completion of the sale, the director owned 1,337,712 shares of the company’s stock, valued at $13,791,810.72. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 156,948 shares of company stock worth $1,630,690 in the last 90 days. 5.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after purchasing an additional 709,957 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Fomento Economico Mexicano by 12,960.1% during the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after purchasing an additional 595,388 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Fomento Economico Mexicano in the third quarter valued at approximately $50,343,000. Invesco Ltd. raised its position in shares of Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after purchasing an additional 423,073 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter worth $41,408,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

FMX opened at $108.58 on Monday. The stock has a fifty day moving average price of $108.57 and a 200 day moving average price of $101.11. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $116.09. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 0.78 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.58). The firm had revenue of $12.21 billion during the quarter, compared to analyst estimates of $11.98 billion. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. Analysts forecast that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a dividend of $2.0531 per share. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.6%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 80.00%.

About Fomento Economico Mexicano

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.