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

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $139.50.

Separately, Barclays decreased their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, July 15th.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in shares of Fomento Económico Mexicano during the 2nd quarter worth $1,578,000. Canada Pension Plan Investment Board grew its position in shares of Fomento Económico Mexicano by 279.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 146,600 shares of the company’s stock worth $15,781,000 after buying an additional 108,000 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Fomento Económico Mexicano during the 2nd quarter worth $921,000. Hsbc Holdings PLC grew its position in shares of Fomento Económico Mexicano by 10.9% during the 2nd quarter. Hsbc Holdings PLC now owns 15,408 shares of the company’s stock worth $1,659,000 after buying an additional 1,513 shares in the last quarter. Finally, Wealth Alliance grew its position in shares of Fomento Económico Mexicano by 4.4% during the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock worth $378,000 after buying an additional 147 shares in the last quarter.

Fomento Económico Mexicano Stock Performance

NYSE:FMX opened at $111.47 on Friday. The stock’s fifty day moving average is $110.39 and its 200 day moving average is $119.99. Fomento Económico Mexicano has a fifty-two week low of $99.24 and a fifty-two week high of $143.43. The firm has a market capitalization of $39.88 billion, a PE ratio of 30.21, a PEG ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were given a $1.0206 dividend. This represents a yield of 1.5%. The ex-dividend date was Wednesday, July 17th. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

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.