Barclays Trims Fomento Económico Mexicano (NYSE:FMX) Target Price to $125.00

Fomento Económico Mexicano (NYSE:FMX) had its price objective trimmed by Barclays from $145.00 to $125.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $129.40.

Fomento Económico Mexicano Stock Down 1.3 %

Shares of NYSE:FMX opened at $97.40 on Monday. 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 market cap of $34.85 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94. Fomento Económico Mexicano has a 52 week low of $96.56 and a 52 week high of $143.43. The firm has a 50 day simple moving average of $103.34 and a 200 day simple moving average of $111.07.

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. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The company had revenue of $11.54 billion during the quarter. As a group, research analysts expect that Fomento Económico Mexicano will post 5.41 earnings per share for the current year.

Fomento Económico Mexicano Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FMX. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after buying an additional 416,000 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Fomento Económico Mexicano by 9.0% in 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. Sustainable Growth Advisers LP boosted its holdings in Fomento Económico Mexicano by 122.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock valued at $56,785,000 after purchasing an additional 240,256 shares during the period. Millennium Management LLC boosted its holdings in Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock valued at $23,948,000 after purchasing an additional 189,632 shares during the period. Finally, Employees Retirement System of Texas boosted its holdings in Fomento Económico Mexicano by 64.1% in the 2nd quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock valued at $50,713,000 after purchasing an additional 184,000 shares during the period.

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.