Fomento Económico Mexicano (NYSE:FMX) Hits New 52-Week Low – What’s Next?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shares hit a new 52-week low on Wednesday . The stock traded as low as $94.95 and last traded at $95.62, with a volume of 12827 shares changing hands. The stock had previously closed at $96.80.

Wall Street Analysts Forecast Growth

FMX has been the topic of several analyst reports. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays decreased their target price on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, StockNews.com downgraded shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Tuesday. Six 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, the company has a consensus rating of “Hold” and a consensus price target of $129.40.

Fomento Económico Mexicano Trading Down 1.4 %

The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $34.16 billion, a PE ratio of 26.25, a PEG ratio of 5.59 and a beta of 0.94. The stock’s fifty day simple moving average is $100.75 and its 200 day simple moving average is $109.06.

Fomento Económico Mexicano Cuts Dividend

The business also recently announced an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a dividend of $0.864 per share. 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 13.55%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Park Place Capital Corp lifted its holdings in Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Fomento Económico Mexicano in the second quarter worth about $51,000. Van ECK Associates Corp grew its position in shares of Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after purchasing an additional 306 shares in the last quarter. CWM LLC raised its stake in Fomento Económico Mexicano by 28.7% during 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 period. Finally, Contravisory Investment Management Inc. purchased a new position in Fomento Económico Mexicano in the 2nd quarter worth approximately $163,000.

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.