Fomento Económico Mexicano (NYSE:FMX) Upgraded by StockNews.com to Buy Rating

by · The Cerbat Gem

StockNews.com upgraded shares of Fomento Económico Mexicano (NYSE:FMX – Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

FMX has been the topic of several other reports. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays lowered their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $128.00.

Read Our Latest Research Report on FMX

Fomento Económico Mexicano Price Performance

FMX opened at $96.66 on Wednesday. Fomento Económico Mexicano has a 52-week low of $93.32 and a 52-week high of $143.43. The company has a 50 day moving average of $99.61 and a two-hundred day moving average of $108.16. The company has a market cap of $34.58 billion, a P/E ratio of 24.78, a P/E/G ratio of 5.52 and a beta of 0.94. 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 firm also recently declared an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were issued a $0.864 dividend. 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 is currently 12.82%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several institutional investors and hedge funds have recently made changes to their positions in the business. Oldfield Partners LLP increased its holdings in Fomento Económico Mexicano by 0.8% in the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after buying an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Fomento Económico Mexicano by 8.9% during the first 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. Baker Ellis Asset Management LLC raised its holdings in shares of Fomento Económico Mexicano by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after purchasing an additional 140 shares during the period. Wealth Alliance lifted its position in shares of Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock worth $378,000 after buying an additional 147 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Fomento Económico Mexicano by 9.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after buying an additional 204 shares during the period.

Fomento Económico Mexicano Company Profile

(Get Free Report)

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.

Featured Articles