Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Price Target at $108.50

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $108.8333.

FMX has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. The Goldman Sachs Group upped their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Barclays lifted their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday.

Institutional Investors Weigh In On Fomento Economico Mexicano

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fomento Economico Mexicano by 4.4% in the second quarter. Envestnet Asset Management Inc. now owns 277,954 shares of the company’s stock valued at $28,624,000 after buying an additional 11,668 shares during the last quarter. Transcend Capital Advisors LLC acquired a new position in Fomento Economico Mexicano during the 2nd quarter worth about $245,000. Y Intercept Hong Kong Ltd grew its holdings in Fomento Economico Mexicano by 158.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 7,863 shares of the company’s stock worth $810,000 after acquiring an additional 4,819 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Fomento Economico Mexicano by 1,303.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 912 shares of the company’s stock worth $94,000 after acquiring an additional 847 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Trading Up 2.1%

Shares of FMX opened at $111.62 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The company has a 50-day moving average price of $107.10 and a two-hundred day moving average price of $98.96. Fomento Economico Mexicano has a 12 month low of $83.08 and a 12 month high of $116.09.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.58). The company had revenue of $12.21 billion during the quarter, compared to the consensus estimate of $11.98 billion. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. On average, research analysts predict that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were paid a $2.0531 dividend. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio is presently 80.00%.

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.