StockNews.com Downgrades Fomento Económico Mexicano (NYSE:FMX) to Hold

StockNews.com lowered shares of Fomento Económico Mexicano (NYSE:FMX) from a buy rating to a hold rating in a research report released on Tuesday.

Several other equities research analysts also recently commented on the stock. Barclays reduced their target price on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $129.40.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $96.85 on Tuesday. Fomento Económico Mexicano has a twelve month low of $95.84 and a twelve month high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The stock has a market cap of $34.65 billion, a P/E ratio of 26.25, a PEG ratio of 5.59 and a beta of 0.94. The company’s 50-day simple moving average is $100.75 and its 200 day simple moving average is $109.06.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 13.55%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp grew its position in shares of Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Fomento Económico Mexicano in the second quarter valued at approximately $51,000. Van ECK Associates Corp grew its holdings in Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after acquiring an additional 306 shares during the period. CWM LLC raised its position in shares of Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after acquiring an additional 213 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Fomento Económico Mexicano by 8.9% during 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 during the last quarter.

About Fomento Económico Mexicano

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.