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

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $126.33.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays dropped their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Fomento Económico Mexicano in the third quarter valued at about $7,672,000. Klein Pavlis & Peasley Financial Inc. grew its stake in Fomento Económico Mexicano by 29.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after buying an additional 5,505 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Fomento Económico Mexicano by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after acquiring an additional 169,184 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after acquiring an additional 64,291 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $86.80 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The business has a 50-day moving average of $92.83 and a 200-day moving average of $102.17. The stock has a market capitalization of $31.06 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 5.23 and a beta of 0.90. Fomento Económico Mexicano has a fifty-two week low of $85.30 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were issued a dividend of $0.864 per share. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is presently 12.82%.

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.