Brokerages Set Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Target Price at $128.25

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $128.25.

FMX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays cut their target price on 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.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $87.14 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The company has a 50 day moving average price of $97.00 and a 200-day moving average price of $105.94. Fomento Económico Mexicano has a fifty-two week low of $86.13 and a fifty-two week high of $143.43. The stock has a market capitalization of $31.18 billion, a PE ratio of 22.34, a PEG ratio of 5.07 and a beta of 0.94.

Fomento Económico Mexicano Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Oldfield Partners LLP boosted its holdings in Fomento Económico Mexicano by 0.8% in the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock worth $1,432,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Fomento Económico Mexicano by 8.9% in the 1st 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 last quarter. Baker Ellis Asset Management LLC boosted its stake in Fomento Económico Mexicano by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after purchasing an additional 140 shares in the last quarter. Wealth Alliance grew its position in Fomento Económico Mexicano by 4.4% during the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock worth $378,000 after purchasing an additional 147 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after purchasing an additional 149 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.