Fomento Económico Mexicano (NYSE:FMX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Fomento Económico Mexicano (NYSE:FMX) from a buy rating to a hold rating in a report published on Monday morning.

FMX has been the subject of several other research reports. Barclays reduced their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an overweight rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an overweight rating to a neutral rating and upped their target price for the company from $104.00 to $109.00 in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of Hold and an average target price of $133.40.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $100.87 on Monday. The firm’s fifty day moving average price is $107.02 and its two-hundred day moving average price is $114.09. Fomento Económico Mexicano has a 1 year low of $98.97 and a 1 year high of $143.43. The firm has a market capitalization of $36.09 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX) last issued 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%. As a group, research analysts anticipate that Fomento Económico Mexicano will post 5.39 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

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

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Fomento Económico Mexicano by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company’s stock valued at $32,640,000 after acquiring an additional 5,796 shares during the period. Corient Private Wealth LLC lifted its position in Fomento Económico Mexicano by 22.0% during the fourth quarter. Corient Private Wealth LLC now owns 4,410 shares of the company’s stock worth $575,000 after purchasing an additional 796 shares during the period. Hsbc Holdings PLC grew its stake in Fomento Económico Mexicano by 275.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,290 shares of the company’s stock worth $1,602,000 after buying an additional 19,285 shares in the last quarter. Parallel Advisors LLC increased its holdings in Fomento Económico Mexicano by 22.1% in the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after buying an additional 134 shares during the period. Finally, Axiom Investors LLC DE raised its position in shares of Fomento Económico Mexicano by 2.6% in the 4th quarter. Axiom Investors LLC DE now owns 689,860 shares of the company’s stock valued at $89,923,000 after buying an additional 17,659 shares in the last quarter.

Fomento Económico Mexicano Company Profile

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.