Fomento Económico Mexicano (NYSE:FMX) Sets New 52-Week Low – Time to Sell?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shares hit a new 52-week low on Wednesday . The stock traded as low as $85.91 and last traded at $85.91, with a volume of 463976 shares traded. The stock had previously closed at $87.57.

Analyst Ratings Changes

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

Fomento Económico Mexicano Price 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 company has a market capitalization of $30.70 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 5.03 and a beta of 0.94. The firm’s 50 day simple moving average is $95.73 and its 200 day simple moving average is $105.11.

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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is presently 12.82%.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Fomento Económico Mexicano during the second quarter valued at approximately $51,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano in the third quarter worth $55,000. Van ECK Associates Corp increased its stake in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after purchasing an additional 306 shares during the period. CWM LLC lifted its position in shares of Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Fomento Económico Mexicano during the second quarter valued at $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.