Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Average Rating of “Hold” by Analysts

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) 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.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX opened at $96.85 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano has a 52 week low of $95.84 and a 52 week high of $143.43. The firm has a market cap of $34.65 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 5.59 and a beta of 0.94. The firm’s fifty day moving average is $100.75 and its 200-day moving average is $109.06.

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.