Fomento Económico Mexicano (NYSE:FMX) Sets New 52-Week Low – Time to Sell?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $93.03 and last traded at $93.22, with a volume of 202904 shares traded. The stock had previously closed at $96.20.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $128.25.

Fomento Económico Mexicano Stock Performance

The stock has a market cap of $33.32 billion, a PE ratio of 24.68, a P/E/G ratio of 5.67 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $99.23 and a 200 day moving average of $107.68.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 12.82%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Fomento Económico Mexicano during the second quarter worth approximately $51,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano in the third quarter valued at $55,000. Van ECK Associates Corp raised its position in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after purchasing an additional 306 shares during the period. CWM LLC raised its position in Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Fomento Económico Mexicano by 8.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after purchasing an additional 105 shares during the period.

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.