StockNews.com Upgrades Fomento Económico Mexicano (NYSE:FMX) to Buy

StockNews.com upgraded shares of Fomento Económico Mexicano (NYSE:FMX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

FMX has been the topic of several other reports. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays cut their price target on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.40.

Fomento Económico Mexicano Trading Down 0.2 %

Shares of NYSE FMX opened at $98.03 on Friday. The company has a market cap of $35.07 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. The stock’s 50 day simple moving average is $102.27 and its 200 day simple moving average is $110.10. 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 has a 12-month low of $95.84 and a 12-month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last posted 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 return on equity of 8.65% and a net margin of 3.75%. Equities research analysts expect that Fomento Económico Mexicano will post 5.41 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th will be paid a $0.864 dividend. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio is currently 23.31%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. Baillie Gifford & Co. increased its position in shares of Fomento Económico Mexicano by 9.0% during the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after purchasing an additional 344,815 shares during the period. ANTIPODES PARTNERS Ltd grew its holdings in Fomento Económico Mexicano by 19.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock worth $123,169,000 after acquiring an additional 153,771 shares during the period. Black Creek Investment Management Inc. raised its position in Fomento Económico Mexicano by 15.5% in the second quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock worth $97,617,000 after acquiring an additional 121,800 shares in the last quarter. LA Financiere DE L Echiquier lifted its holdings in Fomento Económico Mexicano by 22.1% in the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after acquiring an additional 140,309 shares during the last quarter. Finally, Perpetual Ltd lifted its holdings in Fomento Económico Mexicano by 9.4% in the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 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.