Fomento Económico Mexicano (NYSE:FMX) Given New $118.00 Price Target at Barclays

by · The Cerbat Gem

Fomento Económico Mexicano (NYSE:FMX – Free Report) had its target price lowered by Barclays from $125.00 to $118.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.00.

Read Our Latest Research Report on Fomento Económico Mexicano

Fomento Económico Mexicano Stock Down 0.8 %

Shares of NYSE:FMX opened at $96.05 on Wednesday. Fomento Económico Mexicano has a 52-week low of $94.86 and a 52-week high of $143.43. The stock has a market cap of $34.37 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 5.59 and a beta of 0.94. The business’s 50 day moving average is $100.52 and its 200 day moving average is $108.97. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano Cuts Dividend

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

Institutional Trading of Fomento Económico Mexicano

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Place Capital Corp lifted its holdings 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 purchasing an additional 97 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Fomento Económico Mexicano during the 2nd quarter valued at $51,000. Van ECK Associates Corp lifted its holdings in shares of 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 lifted its holdings in shares of 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 lifted its holdings in shares of Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after purchasing an additional 105 shares during the last quarter.

Fomento Económico Mexicano Company Profile

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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.

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