Fomento Económico Mexicano (NYSE:FMX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Fomento Económico Mexicano (NYSE:FMX) from a buy rating to a hold rating in a research report released on Tuesday morning.

A number of other research firms have also recently commented on FMX. Barclays lowered their price target on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $128.00.

Fomento Económico Mexicano Trading Down 0.2 %

Fomento Económico Mexicano stock opened at $96.74 on Tuesday. The firm has a 50 day moving average of $100.10 and a 200 day moving average of $108.70. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $34.61 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 5.43 and a beta of 0.94. Fomento Económico Mexicano has a 12-month low of $94.86 and a 12-month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is currently 12.82%.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of hedge funds have recently bought and sold shares of the business. Park Place Capital Corp increased its holdings in shares of Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano during the second quarter valued at approximately $51,000. Van ECK Associates Corp lifted its stake in shares of Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after purchasing an additional 306 shares during the last quarter. CWM LLC lifted its stake in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after purchasing an additional 105 shares during the period.

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.