Fomento Económico Mexicano (NYSE:FMX) Trading Up 4.4% – Time to Buy?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shares rose 4.4% during 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 Analyst Weigh In

A number of research analysts have weighed in on FMX shares. Barclays increased their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group cut their target price on shares of 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. Finally, UBS Group increased their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.95.

Fomento Económico Mexicano Trading Up 3.5 %

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 company has a market capitalization of $36.99 billion, a PE ratio of 26.51, a PEG ratio of 5.26 and a beta of 0.87. The stock has a fifty day moving average of $92.69 and a 200 day moving average of $92.29.

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

Fomento Económico Mexicano Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.03%.

Institutional Trading of Fomento Económico Mexicano

Several hedge funds have recently modified their holdings of FMX. Park Avenue Securities LLC bought a new stake in Fomento Económico Mexicano in the fourth quarter worth $225,000. Sarasin & Partners LLP increased its holdings in shares of Fomento Económico Mexicano by 33.3% in the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after buying an additional 5,000 shares during the last quarter. Cerity Partners LLC raised its position in shares of Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock valued at $940,000 after buying an additional 191 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Fomento Económico Mexicano by 141.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock valued at $11,541,000 after acquiring an additional 79,181 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Fomento Económico Mexicano by 1.2% in the third quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after acquiring an additional 149 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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.