Fomento Económico Mexicano (NYSE:FMX) Sets New 1-Year Low – Here’s Why

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $89.97 and last traded at $90.83, with a volume of 24993 shares traded. The stock had previously closed at $90.08.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FMX. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Barclays cut their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano has a consensus rating of “Hold” and an average target price of $128.25.

Fomento Económico Mexicano Price Performance

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 stock has a market capitalization of $31.95 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 5.28 and a beta of 0.94. The stock’s 50 day moving average is $97.97 and its two-hundred day moving average is $106.53.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced 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 dividend payout ratio (DPR) is presently 12.82%.

Institutional Trading of Fomento Económico Mexicano

Several large investors have recently made changes to their positions in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano during the 2nd quarter worth $51,000. Banque Cantonale Vaudoise purchased a new position in shares of Fomento Económico Mexicano in the third quarter worth about $55,000. Van ECK Associates Corp boosted its position in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after acquiring an additional 306 shares during the last quarter. CWM LLC boosted its position in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after acquiring an additional 105 shares in 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.