Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been assigned an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $119.20.

Several equities research analysts have recently commented on the company. Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th.

Institutional Trading of Fomento Económico Mexicano

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group increased its stake in Fomento Económico Mexicano by 82.8% in the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares during the period. Mather Group LLC. increased its stake in shares of Fomento Económico Mexicano by 179.1% in the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after acquiring an additional 369 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $51,000. Banque Cantonale Vaudoise acquired a new stake in Fomento Económico Mexicano during the third quarter valued at $55,000. Finally, Rosenberg Matthew Hamilton grew its stake in Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after purchasing an additional 176 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Performance

FMX opened at $85.91 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The firm has a market cap of $30.74 billion, a PE ratio of 22.03, a P/E/G ratio of 4.92 and a beta of 0.90. The business has a fifty day simple moving average of $86.19 and a 200-day simple moving average of $96.27. Fomento Económico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is 11.79%.

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.