Fomento Económico Mexicano (NYSE:FMX) Shares Down 2.8%

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s share price fell 2.8% on Wednesday . The company traded as low as $107.07 and last traded at $107.10. 410,718 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 686,273 shares. The stock had previously closed at $110.23.

Analysts Set New Price Targets

Separately, Barclays lowered their price objective on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.50.

Fomento Económico Mexicano Price Performance

The company has a market cap of $38.35 billion, a PE ratio of 29.87, a price-to-earnings-growth 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. The stock has a 50 day moving average of $110.55 and a 200-day moving average of $119.08.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The company had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. Equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.38 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were paid a dividend of $1.0206 per share. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a dividend yield of 1.5%. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 14.36%.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in shares of Fomento Económico Mexicano by 6.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the company’s stock valued at $153,000 after acquiring an additional 72 shares during the period. Park Place Capital Corp grew its position in shares of Fomento Económico Mexicano by 78.2% during the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Oldfield Partners LLP boosted its holdings in Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock worth $1,432,000 after buying an additional 100 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Fomento Económico Mexicano by 48.6% in the 4th quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock worth $41,000 after buying an additional 104 shares during the last quarter. Finally, Solstein Capital LLC boosted its holdings in Fomento Económico Mexicano by 0.4% in the 1st quarter. Solstein Capital LLC now owns 28,372 shares of the company’s stock worth $3,696,000 after buying an additional 118 shares during 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.