Fomento Económico Mexicano (NYSE:FMX) Trading 4.4% Higher – Should You Buy?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s share price shot up 4.4% on Thursday . The company traded as high as $104.81 and last traded at $104.34. 42,932 shares were traded during mid-day trading, a decline of 93% from the average session volume of 623,538 shares. The stock had previously closed at $99.93.

Wall Street Analysts Forecast Growth

FMX has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Barclays raised their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, UBS Group upped their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and a consensus target price of $103.95.

Fomento Económico Mexicano Stock Performance

The firm has a market capitalization of $34.62 billion, a PE ratio of 24.81, a PEG ratio of 5.26 and a beta of 0.87. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $93.27 and a 200 day moving average of $92.31.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The business had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. Equities research analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were issued a $0.9201 dividend. This is a positive change 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 is presently 11.03%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in shares of Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Fomento Económico Mexicano during the fourth quarter worth approximately $44,000. Mather Group LLC. boosted its stake in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Fomento Económico Mexicano during the 4th quarter valued at $51,000. Finally, Rosenberg Matthew Hamilton raised its position in Fomento Económico Mexicano by 30.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares during the period. Institutional investors own 61.00% of the company’s stock.

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.