Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Average Rating of “Hold” by Analysts

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has received an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $128.25.

A number of brokerages have commented on FMX. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, Barclays decreased their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th.

Fomento Económico Mexicano Stock Down 1.2 %

NYSE FMX opened at $90.08 on Friday. The stock has a 50 day moving average price of $98.42 and a 200-day moving average price of $107.09. Fomento Económico Mexicano has a one year low of $90.00 and a one year high of $143.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The company has a market capitalization of $32.23 billion, a P/E ratio of 23.10, a P/E/G ratio of 5.43 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were paid a $0.864 dividend. This represents a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is currently 12.82%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Institutional investors and hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Fomento Económico Mexicano during the 2nd quarter valued at about $51,000. Banque Cantonale Vaudoise purchased a new position in shares of Fomento Económico Mexicano during the third quarter worth approximately $55,000. Van ECK Associates Corp raised its stake in shares of Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares in the last quarter. CWM LLC boosted its holdings in shares of Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 105 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.