Brokerages Set Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) PT at $126.33

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $126.33.

FMX has been the subject of a number of research reports. Barclays reduced their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded 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. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th.

Fomento Económico Mexicano Trading Up 0.1 %

NYSE:FMX opened at $88.68 on Thursday. The company has a 50 day simple moving average of $93.52 and a two-hundred day simple moving average of $102.76. The company has a market cap of $31.73 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. 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 has a 12 month low of $85.30 and a 12 month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 12.82%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. raised its position in Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after purchasing an additional 421,057 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Fomento Económico Mexicano by 267.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock worth $30,956,000 after purchasing an additional 228,284 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Fomento Económico Mexicano in the 3rd quarter worth about $19,856,000. Finally, Millennium Management LLC raised its position in Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock worth $23,948,000 after purchasing an additional 189,632 shares during the period. Institutional investors own 61.00% of the company’s stock.

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.