Fomento Economico Mexicano (NYSE:FMX) Sees Strong Trading Volume – What’s Next?

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) saw an uptick in trading volume on Thursday . 534,406 shares were traded during mid-day trading, an increase of 37% from the previous session’s volume of 390,047 shares.The stock last traded at $104.1550 and had previously closed at $103.85.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their price target for the company from $115.00 to $111.00 in a research report on Friday, September 19th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, Barclays decreased their price objective on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fomento Economico Mexicano has a consensus rating of “Hold” and an average target price of $101.63.

Fomento Economico Mexicano Trading Up 0.6%

The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market cap of $36.86 billion, a P/E ratio of 42.13, a price-to-earnings-growth ratio of 4.01 and a beta of 0.46. The firm’s 50-day simple moving average is $99.38 and its 200 day simple moving average is $95.63.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. As a group, analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Friday, January 16th will be issued a dividend of $2.0531 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a yield of 7.9%. Fomento Economico Mexicano’s payout ratio is currently 90.32%.

Institutional Trading of Fomento Economico Mexicano

Several institutional investors and hedge funds have recently made changes to their positions in FMX. AQR Capital Management LLC grew its holdings in shares of Fomento Economico Mexicano by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after purchasing an additional 969 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in Fomento Economico Mexicano during the second quarter valued at about $215,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Fomento Economico Mexicano during the second quarter valued at about $263,000. Exchange Traded Concepts LLC grew its stake in shares of Fomento Economico Mexicano by 154.1% during the second quarter. Exchange Traded Concepts LLC now owns 80,000 shares of the company’s stock valued at $8,238,000 after buying an additional 48,518 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Fomento Economico Mexicano by 25.3% in the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.