Fomento Economico Mexicano (NYSE:FMX) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $95.63 and traded as high as $106.30. Fomento Economico Mexicano shares last traded at $106.2460, with a volume of 501,715 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FMX. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday. Barclays cut their price objective on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.63.

Fomento Economico Mexicano Price Performance

The company has a 50 day moving average price of $100.61 and a 200 day moving average price of $95.64. The company has a market capitalization of $37.98 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 4.13 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates 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, equities research analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be paid a $2.0531 dividend. 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 annualized dividend and a dividend yield of 7.7%. Fomento Economico Mexicano’s payout ratio is 299.60%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several large investors have recently bought and sold shares of the business. Citigroup Inc. boosted its stake in Fomento Economico Mexicano by 309.6% in the second quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after acquiring an additional 1,296,194 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after purchasing an additional 709,957 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Fomento Economico Mexicano by 12,960.1% in the 3rd quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after purchasing an additional 595,388 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Fomento Economico Mexicano in the 3rd quarter worth $50,343,000. Finally, Invesco Ltd. grew its stake in shares of Fomento Economico Mexicano by 67.8% during the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after purchasing an additional 423,073 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.