Fomento Económico Mexicano (NYSE:FMX) Price Target Raised to $108.00

by · The Markets Daily

Fomento Económico Mexicano (NYSE:FMX – Free Report) had its price target boosted by Barclays from $102.00 to $108.00 in a research note published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Itau BBA Securities raised shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research report on Monday, April 7th. UBS Group upped their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group lowered their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of “Hold” and a consensus price target of $105.45.

View Our Latest Research Report on Fomento Económico Mexicano

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock opened at $102.52 on Monday. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. Fomento Económico Mexicano has a 1 year low of $81.08 and a 1 year high of $123.03. The firm has a 50-day moving average of $100.45 and a two-hundred day moving average of $92.91.

Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $194.75 billion. On average, research analysts forecast that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were given a dividend of $1.628 per share. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. This represents a yield of 1.57%. Fomento Económico Mexicano’s dividend payout ratio is presently 11.41%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group lifted its position in Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 154 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Económico Mexicano during the first quarter valued at approximately $29,000. Banque Transatlantique SA acquired a new position in Fomento Económico Mexicano during the 4th quarter valued at approximately $44,000. Alpine Bank Wealth Management acquired a new position in Fomento Económico Mexicano during the 1st quarter valued at approximately $46,000. Finally, Mather Group LLC. increased its stake in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Económico Mexicano

(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.

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