Fomento Económico Mexicano (NYSE:FMX) Shares Up 4.4% – Here’s What Happened

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) was up 4.4% during mid-day trading on Thursday . The stock traded as high as $104.81 and last traded at $104.34. Approximately 42,932 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 623,538 shares. The stock had previously closed at $99.93.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FMX. UBS Group upped their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Barclays upped their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group cut their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Hold” and a consensus target price of $103.95.

Fomento Económico Mexicano Trading Down 4.6 %

The firm’s fifty day moving average is $93.27 and its two-hundred day moving average is $92.31. 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 firm has a market capitalization of $34.62 billion, a PE ratio of 24.81, a PEG ratio of 5.26 and a beta of 0.87.

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

Fomento Económico Mexicano Increases Dividend

The business 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 dividend payout ratio is presently 11.03%.

Institutional Trading of Fomento Económico Mexicano

Several hedge funds have recently added to or reduced their stakes in FMX. FMR LLC raised its holdings in shares of Fomento Económico Mexicano by 540.3% in the 4th quarter. FMR LLC now owns 3,147,544 shares of the company’s stock worth $269,084,000 after purchasing an additional 2,655,962 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Fomento Económico Mexicano by 20.5% in the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock valued at $1,081,939,000 after buying an additional 2,150,913 shares during the period. Schroder Investment Management Group lifted its position in shares of Fomento Económico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after buying an additional 717,666 shares during the last quarter. Talaria Asset Management Pty Ltd bought a new position in shares of Fomento Económico Mexicano during the 4th quarter worth $47,110,000. Finally, Asset Value Investors Ltd purchased a new stake in Fomento Económico Mexicano in the 4th quarter worth about $42,793,000. Institutional investors own 61.00% of the company’s stock.

About Fomento Económico Mexicano

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.