Fomento Económico Mexicano (NYSE:FMX) Cut to Equal Weight at Barclays

Barclays downgraded shares of Fomento Económico Mexicano (NYSE:FMX) from an overweight rating to an equal weight rating in a report released on Tuesday morning, MarketBeat.com reports.

A number of other research firms have also weighed in on FMX. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Fomento Económico Mexicano has a consensus rating of “Hold” and an average target price of $126.33.

Fomento Económico Mexicano Stock Down 0.6 %

Shares of NYSE FMX opened at $83.94 on Tuesday. The business has a 50-day moving average price of $86.70 and a 200 day moving average price of $98.06. The stock has a market cap of $30.03 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 4.90 and a beta of 0.90. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano has a 52-week low of $81.07 and a 52-week high of $143.43.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 20.26%.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of institutional investors have recently bought and sold shares of FMX. Brooklyn Investment Group grew its stake in Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares during the period. Exchange Traded Concepts LLC acquired a new position in Fomento Económico Mexicano during the 4th quarter worth approximately $51,000. Banque Cantonale Vaudoise purchased a new position in Fomento Económico Mexicano in the 3rd quarter worth approximately $55,000. Rosenberg Matthew Hamilton boosted its stake in shares of Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after purchasing an additional 176 shares during the period. Finally, UMB Bank n.a. grew its holdings in Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after purchasing an additional 203 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.