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

by · The Markets Daily

StockNews.com upgraded shares of Fomento Económico Mexicano (NYSE:FMX – Free Report) from a hold rating to a buy rating in a report published on Saturday.

Several other research firms also recently weighed in on FMX. 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 note on Monday, September 23rd. Barclays cut their target price on shares of Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $129.40.

Read Our Latest Research Report on FMX

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $98.25 on Friday. Fomento Económico Mexicano has a 52 week low of $95.84 and a 52 week high of $143.43. The firm’s 50-day simple moving average is $102.54 and its two-hundred day simple moving average is $110.31. The firm has a market cap of $35.15 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 5.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The company had revenue of $11.54 billion for the quarter. As a group, equities analysts forecast that Fomento Económico Mexicano will post 5.41 earnings per share for the current year.

Fomento Económico Mexicano Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 28th. Investors of record on Wednesday, October 16th will be issued a dividend of $0.864 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 23.31%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Park Place Capital Corp boosted its position in shares of Fomento Económico Mexicano by 78.2% in the first quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Mather Group LLC. purchased a new stake in Fomento Económico Mexicano in the 1st quarter worth approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano in the 2nd quarter worth approximately $51,000. CWM LLC boosted its holdings in Fomento Económico Mexicano by 28.7% in 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 period. Finally, EverSource Wealth Advisors LLC grew its position 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 in the last quarter.

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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