Analysts Set Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Price Target at $103.95

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has been assigned an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $103.95.

Several brokerages have recently commented on FMX. UBS Group increased their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, March 14th. Barclays increased their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. The Goldman Sachs Group decreased their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FMX. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 154 shares during the period. Banque Transatlantique SA bought a new stake in shares of Fomento Económico Mexicano in the fourth quarter valued at approximately $44,000. Alpine Bank Wealth Management purchased a new stake in shares of Fomento Económico Mexicano during the 1st quarter valued at approximately $46,000. Mather Group LLC. lifted its stake in shares of Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after buying an additional 369 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Fomento Económico Mexicano in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Price Performance

FMX stock opened at $101.84 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The business has a 50-day simple moving average of $99.99 and a two-hundred day simple moving average of $92.79. The company has a market capitalization of $36.44 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano has a 52-week low of $81.08 and a 52-week high of $123.09.

Fomento Económico Mexicano (NYSE:FMX) last announced its earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. Research analysts expect that Fomento Económico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a dividend of $1.628 per share. This represents a yield of 1.57%. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date was Thursday, April 24th. Fomento Económico Mexicano’s dividend payout ratio is 11.41%.

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.