Fomento Económico Mexicano (NYSE:FMX) Sets New 12-Month Low – Should You Sell?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $89.97 and last traded at $90.83, with a volume of 24993 shares changing hands. The stock had previously closed at $90.08.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FMX. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays lowered their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $128.25.

Fomento Económico Mexicano Stock Down 1.0 %

The stock has a market capitalization of $31.95 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 5.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The business has a fifty day moving average of $97.97 and a 200 day moving average of $106.53.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were given a $0.864 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is currently 12.82%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano in the 2nd quarter valued at about $51,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fomento Económico Mexicano during the third quarter valued at about $55,000. Van ECK Associates Corp raised its stake in shares of Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares during the period. CWM LLC lifted its holdings in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Fomento Económico Mexicano in the 2nd quarter worth approximately $163,000.

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.