Fomento Económico Mexicano (NYSE:FMX) PT Lowered to $145.00 at Barclays

Fomento Económico Mexicano (NYSE:FMX) had its target price reduced by Barclays from $160.00 to $145.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Fomento Económico Mexicano Price Performance

Shares of FMX stock opened at $117.58 on Monday. The stock’s fifty day moving average is $112.82 and its 200-day moving average is $122.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.63 and a current ratio of 1.95. Fomento Económico Mexicano has a 52 week low of $99.24 and a 52 week high of $143.43. The stock has a market capitalization of $42.07 billion, a PE ratio of 31.86, a PEG ratio of 4.33 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.47 EPS for the quarter. The firm had revenue of $10.76 billion for the quarter. Fomento Económico Mexicano had a net margin of 2.91% and a return on equity of 8.20%. Equities research analysts expect that Fomento Económico Mexicano will post 5.33 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 17th will be given a $1.0206 dividend. This represents a yield of 1.5%. The ex-dividend date is Wednesday, July 17th. This is a boost from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s payout ratio is 16.80%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several large investors have recently made changes to their positions in FMX. Baillie Gifford & Co. boosted its stake in shares of Fomento Económico Mexicano by 53.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,838,639 shares of the company’s stock valued at $500,367,000 after purchasing an additional 1,343,165 shares during the last quarter. Hawk Ridge Capital Management LP bought a new position in Fomento Económico Mexicano in the fourth quarter valued at approximately $79,852,000. Vontobel Asset Management Inc. boosted its stake in Fomento Económico Mexicano by 1,253.3% in the fourth quarter. Vontobel Asset Management Inc. now owns 362,616 shares of the company’s stock valued at $45,839,000 after acquiring an additional 335,822 shares during the last quarter. Sustainable Growth Advisers LP grew its holdings in Fomento Económico Mexicano by 122.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock worth $56,785,000 after acquiring an additional 240,256 shares during the period. Finally, Zimmer Partners LP raised its position in shares of Fomento Económico Mexicano by 377.8% during the 1st quarter. Zimmer Partners LP now owns 215,000 shares of the company’s stock valued at $28,008,000 after acquiring an additional 170,000 shares during the last quarter.

Fomento Económico Mexicano Company Profile

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.