Fomento Economico Mexicano (NYSE:FMX) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Fomento Economico Mexicano (NYSE:FMX) from a neutral rating to an overweight rating in a research report sent to investors on Friday, MarketBeat reports. The brokerage currently has $151.00 price target on the stock, up from their prior price target of $126.00.

Several other brokerages also recently commented on FMX. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Fomento Economico Mexicano in a research note on Tuesday, August 4th. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the stock from $125.00 to $150.00 in a report on Tuesday, August 4th. Zacks Research lowered Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.83.

Fomento Economico Mexicano Price Performance

NYSE FMX opened at $126.55 on Friday. Fomento Economico Mexicano has a 12 month low of $90.87 and a 12 month high of $141.47. The stock has a market cap of $43.73 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 0.67 and a beta of 0.41. The company’s 50 day moving average is $119.52 and its two-hundred day moving average is $121.59. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

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. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. As a group, research analysts anticipate that Fomento Economico Mexicano will post 6.35 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be issued a dividend of $1.7804 per share. This is a decrease from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $7.12 dividend on an annualized basis and a yield of 5.6%. Fomento Economico Mexicano’s payout ratio is 47.60%.

Insider Transactions at Fomento Economico Mexicano

In related news, Director Michael David Kahn acquired 2,100 shares of Fomento Economico Mexicano stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the transaction, the director directly owned 2,100 shares in the company, valued at approximately $248,073. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors have recently bought and sold shares of the stock. HB Wealth Management LLC raised its holdings in Fomento Economico Mexicano by 5.8% during the 1st quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after buying an additional 136 shares during the period. Matthews International Capital Management LLC lifted its position in Fomento Economico Mexicano by 0.6% in the first quarter. Matthews International Capital Management LLC now owns 31,465 shares of the company’s stock worth $3,495,000 after buying an additional 174 shares during the last quarter. GAMMA Investing LLC lifted its position in Fomento Economico Mexicano by 79.2% in the third quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock worth $47,000 after buying an additional 175 shares during the last quarter. Groupama Asset Managment boosted its stake in Fomento Economico Mexicano by 4.1% during the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock worth $512,000 after buying an additional 181 shares during the period. Finally, NewEdge Wealth LLC boosted its stake in Fomento Economico Mexicano by 2.9% during the first quarter. NewEdge Wealth LLC now owns 6,894 shares of the company’s stock worth $766,000 after buying an additional 196 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Monterrey, Mexico-based multinational company with operations focused on beverage bottling, retail and related consumer services. The company traces its origins to 1890, when it was established as a brewery in Monterrey, and has since developed into one of Latin America’s largest consumer-facing businesses.

FEMSA’s principal beverage business is Coca-Cola FEMSA, which produces, markets, sells and distributes Coca-Cola trademark beverages and other nonalcoholic drinks.