Fomento Economico Mexicano (NYSE:FMX) Given New $122.00 Price Target at UBS Group

Fomento Economico Mexicano (NYSE:FMX) had its price target lifted by UBS Group from $109.00 to $122.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Barclays upped their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus price target of $110.67.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $101.42 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 0.78 and a beta of 0.42. The company’s fifty day moving average is $108.40 and its two-hundred day moving average is $100.57. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $116.09.

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

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a dividend of $2.0531 per share. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 8.1%. Fomento Economico Mexicano’s dividend payout ratio is currently 80.00%.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. AQR Capital Management LLC grew its stake in shares of Fomento Economico Mexicano by 19.0% during the first 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. PNC Financial Services Group Inc. raised its position in Fomento Economico Mexicano by 8.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,218 shares of the company’s stock worth $743,000 after purchasing an additional 582 shares during the last quarter. SG Americas Securities LLC raised its position in Fomento Economico Mexicano by 92.6% in the 2nd quarter. SG Americas Securities LLC now owns 5,203 shares of the company’s stock worth $536,000 after purchasing an additional 2,501 shares during the last quarter. MAI Capital Management lifted its holdings in Fomento Economico Mexicano by 131.1% during the 2nd quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after buying an additional 447 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Fomento Economico Mexicano by 18.4% in the 2nd quarter. American Century Companies Inc. now owns 304,917 shares of the company’s stock valued at $31,400,000 after buying an additional 47,421 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Fomento Economico Mexicano

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.