Fomento Económico Mexicano (NYSE:FMX) Given New $97.80 Price Target at The Goldman Sachs Group

Fomento Económico Mexicano (NYSE:FMX) had its price objective cut by The Goldman Sachs Group from $109.00 to $97.80 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on FMX. Barclays downgraded shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.20.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $86.51 on Tuesday. The stock has a fifty day moving average price of $86.34 and a 200 day moving average price of $97.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The stock has a market cap of $30.95 billion, a PE ratio of 22.18, a P/E/G ratio of 4.87 and a beta of 0.90. Fomento Económico Mexicano has a 1 year low of $81.07 and a 1 year high of $143.43.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is 20.26%.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group lifted its position in Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares during the period. Mather Group LLC. lifted its holdings in shares of Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after acquiring an additional 369 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter worth approximately $51,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano in the third quarter valued at approximately $55,000. Finally, Rosenberg Matthew Hamilton increased its position in Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other 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.