Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $142.17.

A number of brokerages have commented on FMX. Benchmark raised Fomento Economico Mexicano to an “overweight” rating in a report on Friday, October 16th. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $138.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Fomento Economico Mexicano in a research report on Tuesday, August 4th. Finally, UBS Group raised their target price on shares of Fomento Economico Mexicano from $130.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd.

Insider Activity

In other news, Director Michael David Kahn acquired 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares of the company’s stock, valued at $248,073. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in Fomento Economico Mexicano by 3.2% in the 1st quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after purchasing an additional 193,432 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Fomento Economico Mexicano by 14.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,379,331 shares of the company’s stock worth $282,093,000 after buying an additional 292,659 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Fomento Economico Mexicano by 75.2% during the third quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock worth $100,162,000 after buying an additional 362,738 shares during the last quarter. Amundi grew its stake in shares of Fomento Economico Mexicano by 9.8% during the first quarter. Amundi now owns 613,753 shares of the company’s stock worth $68,163,000 after buying an additional 54,786 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Fomento Economico Mexicano by 55.3% during the third quarter. Russell Investments Group Ltd. now owns 238,201 shares of the company’s stock worth $28,475,000 after buying an additional 84,784 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Trading Up 1.3%

Shares of Fomento Economico Mexicano stock opened at $129.72 on Tuesday. The business has a fifty day simple moving average of $121.85 and a two-hundred day simple moving average of $118.94. Fomento Economico Mexicano has a 1 year low of $92.55 and a 1 year high of $141.47. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 0.70 and a beta of 0.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 0.87.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.84 billion. Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.71%. Research analysts forecast that Fomento Economico Mexicano will post 6.32 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Wednesday, October 14th were issued a dividend of $1.7804 per share. This is a drop from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 5.5%. Fomento Economico Mexicano’s payout ratio is currently 40.38%.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican company with businesses in beverage production and retail. Its Coca-Cola FEMSA subsidiary produces, markets and distributes Coca-Cola products under franchise agreements, serving customers in Mexico and other Latin American markets.

FEMSA also operates OXXO convenience stores and other retail businesses across Latin America. Its activities include pharmacy and fuel retailing, as well as digital and financial services through platforms such as Spin by OXXO.

The company traces its origins to 1890, when Cervecería Cuauhtémoc was founded in Monterrey, Mexico.