Fomento Económico Mexicano (NYSE:FMX) Stock Price Up 5.6% – Still a Buy?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shares rose 5.6% on Thursday . The stock traded as high as $96.85 and last traded at $94.49. Approximately 130,285 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 489,451 shares. The stock had previously closed at $89.47.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FMX. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group decreased 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.

Fomento Económico Mexicano Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock’s fifty day simple moving average is $86.63 and its 200-day simple moving average is $93.67. The stock has a market cap of $33.65 billion, a P/E ratio of 24.11, a PEG ratio of 5.26 and a beta of 0.90.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The company had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. On average, research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.79%.

Institutional Trading of Fomento Económico Mexicano

A number of large investors have recently modified their holdings of FMX. First Eagle Investment Management LLC grew its position in Fomento Económico Mexicano by 20.5% in the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock worth $1,081,939,000 after purchasing an additional 2,150,913 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Fomento Económico Mexicano by 5.5% during the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company’s stock worth $450,454,000 after buying an additional 274,467 shares during the period. Baillie Gifford & Co. grew its holdings in 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 in the last quarter. Schroder Investment Management Group grew its holdings in Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock worth $360,716,000 after buying an additional 717,666 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Fomento Económico Mexicano by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock valued at $276,832,000 after acquiring an additional 205,981 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.