Fomento Económico Mexicano (NYSE:FMX) Rating Increased to Buy at StockNews.com

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

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays reduced their price objective on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and an average target price of $129.40.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $98.03 on Friday. Fomento Económico Mexicano has a fifty-two week low of $95.84 and a fifty-two week high of $143.43. The firm’s 50 day simple moving average is $102.27 and its 200-day simple moving average is $110.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The company has a market cap of $35.07 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The firm had revenue of $11.54 billion during the quarter. As a group, equities research analysts predict that Fomento Económico Mexicano will post 5.41 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 23.31%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Park Place Capital Corp lifted its holdings in shares of Fomento Económico Mexicano by 78.2% during 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. Oldfield Partners LLP lifted its stake in Fomento Económico Mexicano by 0.8% in the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Fomento Económico Mexicano by 8.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after acquiring an additional 105 shares in the last quarter. Baker Ellis Asset Management LLC increased its stake in shares of Fomento Económico Mexicano by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Alliance raised its holdings in shares of Fomento Económico Mexicano by 4.4% during the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after purchasing an additional 147 shares in the last quarter.

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.