Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $117.00

Fomento Economico Mexicano (NYSE:FMX) had its price objective hoisted by JPMorgan Chase & Co. from $98.00 to $117.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. UBS Group boosted their price objective on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Barclays boosted their price objective on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Fomento Economico Mexicano has a consensus rating of “Hold” and an average target price of $113.17.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $113.70 on Monday. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $119.21. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $39.29 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 0.84 and a beta of 0.40. The firm’s fifty day simple moving average is $111.53 and its 200 day simple moving average is $103.89.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.36 EPS for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The firm had revenue of $12.21 billion for the quarter. As a group, equities research analysts expect that Fomento Economico Mexicano will post 4.62 earnings per share for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 22nd will be given a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio is currently 80.00%.

Insider Buying and Selling at Fomento Economico Mexicano

In related news, Director Garza Alfonso Garza sold 52,311 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director owned 1,128,453 shares of the company’s stock, valued at $12,627,389.07. This represents a 4.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 261,575 shares of company stock worth $2,795,188. 5.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its position in Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the last quarter. New York State Common Retirement Fund bought a new position in Fomento Economico Mexicano in the 2nd quarter worth about $429,000. EverSource Wealth Advisors LLC grew its position in Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock worth $119,000 after purchasing an additional 438 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Fomento Economico Mexicano in the 2nd quarter worth about $504,000. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.