Fomento Económico Mexicano (NYSE:FMX) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano (NYSE:FMX) from an overweight rating to a neutral rating in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has $109.00 price target on the stock, up from their previous price target of $104.00.

Other analysts also recently issued reports about the company. Barclays reduced their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an overweight rating for the company in a research note on Monday, July 15th. StockNews.com raised Fomento Económico Mexicano from a hold rating to a buy rating in a research note on Thursday, August 29th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $133.40.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $100.15 on Monday. The firm has a market cap of $35.83 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano has a 52-week low of $98.97 and a 52-week high of $143.43. The business’s 50 day moving average price is $107.36 and its two-hundred day moving average price is $114.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities analysts anticipate that Fomento Económico Mexicano will post 5.39 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th were paid a $1.0206 dividend. The ex-dividend date was Wednesday, July 17th. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a dividend yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Park Place Capital Corp raised its position in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after buying an additional 97 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Fomento Económico Mexicano in the first quarter valued at about $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Fomento Económico Mexicano in the second quarter valued at about $51,000. Parallel Advisors LLC lifted its position in shares of Fomento Económico Mexicano by 22.1% during the fourth quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after purchasing an additional 134 shares in the last quarter. Finally, CWM LLC boosted its holdings in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares during the last quarter.

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.