Fomento Económico Mexicano (NYSE:FMX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Fomento Económico Mexicano (NYSE:FMX) from a hold rating to a buy rating in a research note released on Thursday.

Several other analysts have also issued reports on the company. Barclays cut their price objective on Fomento Económico Mexicano from $160.00 to $145.00 and set an overweight rating for the company in a report on Monday, July 15th. 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 report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $133.40.

Fomento Económico Mexicano Stock Down 0.2 %

NYSE FMX traded down $0.16 during trading on Thursday, reaching $98.26. 4,712 shares of the company’s stock were exchanged, compared to its average volume of 686,184. 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 fifty-two week low of $97.58 and a fifty-two week high of $143.43. The company’s fifty day simple moving average is $104.13 and its 200-day simple moving average is $112.09. The firm has a market capitalization of $35.16 billion, a PE ratio of 26.67, a P/E/G ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The business had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. Sell-side analysts predict that Fomento Económico Mexicano will post 5.41 EPS for the current year.

Fomento Económico Mexicano Cuts Dividend

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

Hedge Funds Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park Place Capital Corp grew its holdings in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after buying an additional 97 shares during the last quarter. Mather Group LLC. bought a new stake in Fomento Económico Mexicano during the 1st quarter worth approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Fomento Económico Mexicano in the second quarter valued at $51,000. CWM LLC increased its position in Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after acquiring an additional 213 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in shares of Fomento Económico Mexicano in the 2nd quarter worth $163,000.

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.