Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Receives $119.50 Consensus PT from Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $119.50.

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Barclays increased their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th.

Fomento Economico Mexicano Stock Up 4.4%

FMX stock opened at $126.38 on Friday. The stock has a market capitalization of $43.67 billion, a P/E ratio of 25.27, a P/E/G ratio of 0.65 and a beta of 0.41. The firm has a 50-day simple moving average of $126.21 and a 200-day simple moving average of $116.91. The company has a quick ratio of 0.87, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. The firm had revenue of $13.20 billion for the quarter. Equities analysts forecast that Fomento Economico Mexicano will post 6.19 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were issued a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 annualized dividend and a dividend yield of 5.8%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s payout ratio is presently 54.36%.

Institutional Investors Weigh In On Fomento Economico Mexicano

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its position in Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Fomento Economico Mexicano by 42.5% during 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. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano during the fourth quarter worth about $50,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after purchasing an additional 499 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.