Fomento Económico Mexicano (NYSE:FMX) Sets New 1-Year Low – Here’s What Happened

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $97.01 and last traded at $97.73, with a volume of 18067 shares trading hands. The stock had previously closed at $97.76.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered 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 note on Monday, September 23rd. Barclays decreased their price objective on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $129.40.

Fomento Económico Mexicano Stock Performance

The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $103.59 and a 200-day moving average of $111.17. The company has a market cap of $34.95 billion, a P/E ratio of 26.41, a PEG ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The firm had revenue of $11.54 billion for the quarter. As a group, sell-side analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be given a dividend of $0.864 per share. This represents a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio is currently 23.31%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Large investors have recently made changes to their positions in the stock. Park Place Capital Corp boosted its position in Fomento Económico Mexicano by 78.2% in the first quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after buying an additional 97 shares during the last quarter. Mather Group LLC. acquired a new position in Fomento Económico Mexicano during the first quarter valued at $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano in the second quarter valued at $51,000. 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 valued at $103,000 after buying an additional 213 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in Fomento Económico Mexicano during the second quarter worth about $163,000.

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.