Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) PT at $131.43

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $131.4286.

A number of research firms have weighed in on FMX. Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price target for the stock from $125.00 to $150.00 in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. UBS Group reissued a “neutral” rating and issued a $139.00 price objective on shares of Fomento Economico Mexicano in a research report on Thursday, August 6th. Weiss Ratings cut shares of Fomento Economico Mexicano from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Fomento Economico Mexicano in a research report on Tuesday, August 4th.

Fomento Economico Mexicano Price Performance

FMX stock opened at $122.84 on Thursday. The stock has a 50-day moving average price of $125.43 and a two-hundred day moving average price of $119.05. The stock has a market cap of $42.45 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 0.69 and a beta of 0.40. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano has a 1 year low of $83.33 and a 1 year high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The company had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%. Equities analysts forecast that Fomento Economico Mexicano will post 6.09 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were given a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $7.31 annualized dividend and a yield of 5.9%. Fomento Economico Mexicano’s payout ratio is presently 48.60%.

Insider Activity at Fomento Economico Mexicano

In related news, Director Michael David Kahn acquired 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the acquisition, the director directly owned 2,100 shares of the company’s stock, valued at approximately $248,073. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Fomento Economico Mexicano

Institutional investors and hedge funds have recently bought and sold shares of the stock. INCA Investments LLC raised its holdings in shares of Fomento Economico Mexicano by 6.9% in the 4th quarter. INCA Investments LLC now owns 395,261 shares of the company’s stock valued at $39,949,000 after purchasing an additional 25,536 shares during the period. Virtu Financial LLC bought a new position in Fomento Economico Mexicano during the fourth quarter worth about $1,137,000. Madison Asset Management LLC bought a new position in Fomento Economico Mexicano during the second quarter worth about $1,727,000. Sei Investments Co. increased its position in Fomento Economico Mexicano by 13.1% during the first quarter. Sei Investments Co. now owns 236,168 shares of the company’s stock worth $26,229,000 after buying an additional 27,439 shares during the last quarter. Finally, Amundi increased its position in Fomento Economico Mexicano by 9.8% during the first quarter. Amundi now owns 613,753 shares of the company’s stock worth $68,163,000 after buying an additional 54,786 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.