Fomento Económico Mexicano (NYSE:FMX) Given New $97.80 Price Target at The Goldman Sachs Group

Fomento Económico Mexicano (NYSE:FMX) had its price objective trimmed by The Goldman Sachs Group from $109.00 to $97.80 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on FMX. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.20.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $86.51 on Tuesday. The company has a fifty day moving average of $86.34 and a two-hundred day moving average of $97.36. The company has a market capitalization of $30.95 billion, a PE ratio of 22.18, a P/E/G ratio of 4.87 and a beta of 0.90. Fomento Económico Mexicano has a 1 year low of $81.07 and a 1 year high of $143.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 20.26%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds have recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Fomento Económico Mexicano during the 3rd quarter worth $7,672,000. BNP Paribas Financial Markets boosted its holdings in shares of Fomento Económico Mexicano by 107.7% in the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after acquiring an additional 169,184 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after acquiring an additional 416,000 shares during the period. Perpetual Ltd raised its holdings in Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after purchasing an additional 64,291 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after purchasing an additional 421,057 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

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.