Fomento Económico Mexicano (NYSE:FMX) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Fomento Económico Mexicano (NYSE:FMX) from a buy rating to a hold rating in a report published on Monday.

Several other research analysts also recently issued reports on the stock. Barclays lowered their price target on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an overweight rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. downgraded 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Fomento Económico Mexicano presently has a consensus rating of Hold and a consensus target price of $133.40.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $100.87 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. The stock has a market cap of $36.09 billion, a PE ratio of 27.34, a P/E/G ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano has a 12-month low of $98.97 and a 12-month high of $143.43. The business’s 50-day moving average price is $107.02 and its two-hundred day moving average price is $114.09.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The company 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%. As a group, analysts expect that Fomento Económico Mexicano will post 5.39 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

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

Institutional Investors Weigh In On Fomento Económico Mexicano

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Fomento Económico Mexicano by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company’s stock worth $32,640,000 after acquiring an additional 5,796 shares during the period. Corient Private Wealth LLC raised its holdings in Fomento Económico Mexicano by 22.0% during the 4th quarter. Corient Private Wealth LLC now owns 4,410 shares of the company’s stock worth $575,000 after purchasing an additional 796 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Fomento Económico Mexicano by 275.7% in the 4th quarter. Hsbc Holdings PLC now owns 12,290 shares of the company’s stock worth $1,602,000 after purchasing an additional 19,285 shares during the period. Parallel Advisors LLC boosted its stake in shares of Fomento Económico Mexicano by 22.1% in 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 last quarter. Finally, Axiom Investors LLC DE increased its position in shares of Fomento Económico Mexicano by 2.6% during the fourth quarter. Axiom Investors LLC DE now owns 689,860 shares of the company’s stock worth $89,923,000 after buying an additional 17,659 shares during the period.

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.