Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Free Report) have received a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $129.40.
FMX has been the topic of a number of analyst reports. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their target price for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, Barclays lowered their price target on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, October 14th.
Check Out Our Latest Stock Report on FMX
Fomento Económico Mexicano Price Performance
Fomento Económico Mexicano Cuts Dividend
The company also recently declared an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were paid a dividend of $0.864 per share. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 13.55%.
Institutional Trading of Fomento Económico Mexicano
A number of hedge funds and other institutional investors have recently bought and sold shares of FMX. Councilmark Asset Management LLC bought a new stake in Fomento Económico Mexicano in the 1st quarter worth about $1,155,000. Manning & Napier Advisors LLC bought a new stake in shares of Fomento Económico Mexicano during the 2nd quarter valued at $2,994,000. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Fomento Económico Mexicano by 29.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after buying an additional 5,505 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after purchasing an additional 416,000 shares during the period. Finally, Perpetual Ltd grew its position in Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after buying an additional 64,291 shares in the last quarter.
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.
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