Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives $119.20 Consensus Target Price from Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $119.20.

A number of analysts recently weighed in on FMX shares. The Goldman Sachs Group dropped their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Barclays lowered shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of institutional investors have recently added to or reduced their stakes in FMX. Baillie Gifford & Co. grew its position in shares of Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock worth $369,786,000 after buying an additional 18,750 shares during the period. Perpetual Ltd increased its stake in shares of Fomento Económico Mexicano by 23.8% during the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company’s stock valued at $79,050,000 after purchasing an additional 177,843 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Fomento Económico Mexicano by 12.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company’s stock valued at $55,977,000 after purchasing an additional 74,082 shares during the last quarter. Ninety One UK Ltd boosted its position in shares of Fomento Económico Mexicano by 3.9% in the 4th quarter. Ninety One UK Ltd now owns 644,148 shares of the company’s stock worth $55,068,000 after purchasing an additional 23,902 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Fomento Económico Mexicano by 5.3% in the 3rd quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after buying an additional 24,537 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $89.86 on Friday. The firm’s fifty day moving average price is $86.14 and its 200-day moving average price is $95.98. Fomento Económico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $143.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The stock has a market cap of $32.15 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 4.92 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is currently 11.79%.

Fomento Económico Mexicano Company Profile

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.