Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Target Price at $101.97

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $101.9667.

Several equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Zacks Research lowered shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. Barclays lowered their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, Citigroup upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the company from $93.00 to $97.00 in a research note on Tuesday, September 9th.

Fomento Economico Mexicano Trading Down 1.1%

FMX opened at $95.52 on Friday. The stock has a market capitalization of $34.18 billion, a P/E ratio of 32.49, a P/E/G ratio of 5.59 and a beta of 0.72. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The firm’s fifty day simple moving average is $92.03 and its 200 day simple moving average is $97.75. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. As a group, research analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 16th will be paid a $1.9982 dividend. This represents a $7.99 annualized dividend and a yield of 8.4%. The ex-dividend date is Thursday, October 16th. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 75.85%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Fomento Economico Mexicano by 2.1% during the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company’s stock worth $579,000 after purchasing an additional 121 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Fomento Economico Mexicano by 4.6% during the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock worth $293,000 after purchasing an additional 125 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Fomento Economico Mexicano by 25.3% during the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after purchasing an additional 166 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

About Fomento Economico 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.