Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Free Report)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $98.67 and last traded at $99.39, with a volume of 534356 shares. The stock had previously closed at $100.92.
Analyst Ratings Changes
Several brokerages have recently weighed in on FMX. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday. Barclays lowered their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $104.00 to $109.00 in a report on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.40.
Check Out Our Latest Analysis on FMX
Fomento Económico Mexicano Price Performance
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The firm had revenue of $11.54 billion for the quarter. As a group, sell-side analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 EPS for the current year.
Fomento Económico Mexicano Increases Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were issued a $1.0206 dividend. This represents a yield of 1.5%. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. The ex-dividend date was Wednesday, July 17th. Fomento Económico Mexicano’s dividend payout ratio is currently 14.36%.
Institutional Trading of Fomento Económico Mexicano
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Park Place Capital Corp increased its holdings in shares of Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Oldfield Partners LLP raised its holdings in Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after acquiring an additional 105 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Fomento Económico Mexicano by 22.1% during the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock worth $97,000 after purchasing an additional 134 shares in the last quarter. Finally, Baker Ellis Asset Management LLC increased its position in shares of Fomento Económico Mexicano by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after purchasing an additional 140 shares during the period.
Fomento Económico Mexicano Company Profile
Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.
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