Fomento Económico Mexicano (NYSE:FMX) Hits New 12-Month Low – Should You Sell?

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $85.91 and last traded at $85.91, with a volume of 463976 shares traded. The stock had previously closed at $87.57.

Analyst Ratings Changes

A number of research firms have recently commented on FMX. Barclays cut their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano Stock Down 2.0 %

The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market cap of $30.70 billion, a PE ratio of 22.45, a P/E/G ratio of 5.18 and a beta of 0.94. The firm’s 50 day moving average is $96.39 and its 200-day moving average is $105.38.

Fomento Económico Mexicano Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Fomento Económico Mexicano during the second quarter valued at approximately $51,000. Banque Cantonale Vaudoise bought a new stake in shares of Fomento Económico Mexicano during the 3rd quarter worth $55,000. Van ECK Associates Corp raised its stake in Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after purchasing an additional 306 shares during the last quarter. CWM LLC raised its stake in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after buying an additional 105 shares in 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.