Fomento Económico Mexicano (NYSE:FMX) Sets New 52-Week Low – Time to Sell?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $93.03 and last traded at $93.22, with a volume of 202904 shares. The stock had previously closed at $96.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FMX shares. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Barclays reduced their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Trading Down 3.2 %

The business’s fifty day moving average is $99.23 and its 200-day moving average is $107.68. The firm has a market cap of $33.32 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 5.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were issued a $0.864 dividend. The ex-dividend date was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 12.82%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FMX. Baillie Gifford & Co. increased its stake in shares of Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after acquiring an additional 421,057 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fomento Económico Mexicano by 267.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock valued at $30,956,000 after acquiring an additional 228,284 shares in the last quarter. Millennium Management LLC increased its stake in shares of Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock valued at $23,948,000 after acquiring an additional 189,632 shares in the last quarter. Finally, Employees Retirement System of Texas raised its holdings in Fomento Económico Mexicano by 64.1% during the second quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock worth $50,713,000 after buying an additional 184,000 shares during the last quarter.

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.