Fomento Económico Mexicano (NYSE:FMX) Given New $107.00 Price Target at UBS Group

Fomento Económico Mexicano (NYSE:FMX) had its price objective upped by UBS Group from $94.00 to $107.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Barclays increased their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $103.95.

Fomento Económico Mexicano Stock Up 1.4 %

FMX stock opened at $99.04 on Friday. The company has a market cap of $35.43 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 5.26 and a beta of 0.87. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano has a 12 month low of $81.07 and a 12 month high of $131.56. The firm has a 50-day moving average of $88.73 and a two-hundred day moving average of $92.72.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.46 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 business had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. As a group, analysts forecast that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed 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 boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.03%.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its position in shares of Fomento Económico Mexicano by 20.5% during 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 period. Royal Bank of Canada boosted its position in shares of Fomento Económico Mexicano by 5.5% during the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company’s stock worth $450,454,000 after purchasing an additional 274,467 shares during the period. Baillie Gifford & Co. boosted its position in shares of Fomento Económico Mexicano by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock worth $369,786,000 after purchasing an additional 18,750 shares during the period. Schroder Investment Management Group boosted 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 worth $360,716,000 after purchasing an additional 717,666 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock worth $276,832,000 after purchasing an additional 205,981 shares during the period. Hedge funds and other 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.