Fomento Económico Mexicano (NYSE:FMX) Stock Price Up 5.6% – Time to Buy?

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shot up 5.6% during mid-day trading on Thursday . The stock traded as high as $96.85 and last traded at $94.49. 130,285 shares were traded during trading, a decline of 73% from the average session volume of 489,451 shares. The stock had previously closed at $89.47.

Analysts Set New Price Targets

FMX has been the topic of a number of research reports. StockNews.com raised 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 research report on Tuesday, January 21st. Finally, The Goldman Sachs Group reduced their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday, January 28th.

Fomento Económico Mexicano Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $33.65 billion, a PE ratio of 24.11, a PEG ratio of 5.26 and a beta of 0.90. The firm’s 50-day simple moving average is $86.63 and its two-hundred day simple moving average is $93.67.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. On average, equities research analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is presently 11.79%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas increased its stake in shares of Fomento Económico Mexicano by 3.3% in the fourth quarter. Employees Retirement System of Texas now owns 486,584 shares of the company’s stock worth $41,598,000 after acquiring an additional 15,488 shares during the last quarter. Talaria Asset Management Pty Ltd acquired a new position in Fomento Económico Mexicano in the 4th quarter worth about $47,110,000. Public Employees Retirement System of Ohio increased its position in Fomento Económico Mexicano by 6.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 213,843 shares of the company’s stock worth $18,281,000 after purchasing an additional 12,689 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth about $301,000. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Fomento Económico Mexicano by 45.8% during the 4th quarter. Voloridge Investment Management LLC now owns 51,038 shares of the company’s stock valued at $4,363,000 after buying an additional 16,038 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.