Fomento Económico Mexicano (NYSE:FMX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Fomento Económico Mexicano (NYSE:FMX) from a hold rating to a buy rating in a research note published on Thursday.

Several other equities research analysts have also recently issued reports on FMX. Barclays decreased their price target on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an overweight rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an overweight rating to a neutral rating and raised their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fomento Económico Mexicano has an average rating of Hold and an average price target of $133.40.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $98.58 on Thursday. The stock has a market cap of $35.27 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 5.60 and a beta of 0.94. Fomento Económico Mexicano has a 52 week low of $97.58 and a 52 week high of $143.43. The company’s 50-day moving average price is $103.92 and its 200 day moving average price is $111.62. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The company had revenue of $11.54 billion for the quarter. As a group, research analysts forecast that Fomento Económico Mexicano will post 5.41 earnings per share for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be given a $0.864 dividend. The ex-dividend date is Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is presently 23.31%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds have recently modified their holdings of the stock. Hawk Ridge Capital Management LP purchased a new position in Fomento Económico Mexicano in the fourth quarter valued at approximately $79,852,000. Virtu Financial LLC purchased a new position in Fomento Económico Mexicano in the fourth quarter valued at approximately $632,000. Confluence Investment Management LLC purchased a new position in Fomento Económico Mexicano in the first quarter valued at approximately $401,000. Mather Group LLC. purchased a new position in Fomento Económico Mexicano in the first quarter valued at approximately $34,000. Finally, Perpetual Ltd raised its holdings in Fomento Económico Mexicano by 13.2% in the first quarter. Perpetual Ltd now owns 572,777 shares of the company’s stock valued at $74,616,000 after buying an additional 66,717 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.