Fomento Económico Mexicano (NYSE:FMX) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano (NYSE:FMX) from an overweight rating to a neutral rating in a report published on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $109.00 price target on the stock, up from their previous price target of $104.00.

FMX has been the topic of several other research reports. Barclays decreased their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an overweight rating on the stock in a research note on Monday, July 15th. StockNews.com raised Fomento Económico Mexicano from a hold rating to a buy rating in a research note on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $133.40.

Fomento Económico Mexicano Trading Down 0.8 %

Shares of Fomento Económico Mexicano stock opened at $100.15 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano has a 12-month low of $98.97 and a 12-month high of $143.43. The company has a market capitalization of $35.83 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 5.75 and a beta of 0.94. The firm’s 50-day moving average price is $107.36 and its two-hundred day moving average price is $114.18.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The business had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, analysts forecast that Fomento Económico Mexicano will post 5.39 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th were paid a $1.0206 dividend. The ex-dividend date was Wednesday, July 17th. This represents a dividend yield of 1.5%. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 14.36%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several large investors have recently modified their holdings of the business. Park Place Capital Corp grew its position in shares of Fomento Económico Mexicano by 78.2% in the 1st 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. bought a new stake in Fomento Económico Mexicano in the first quarter valued at approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano during the 2nd quarter valued at approximately $51,000. Parallel Advisors LLC increased its position in Fomento Económico Mexicano by 22.1% during the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after purchasing an additional 134 shares during the period. Finally, CWM LLC raised its holdings in Fomento Económico Mexicano by 28.7% during the 2nd 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.

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.