Fomento Económico Mexicano (NYSE:FMX) Sets New 52-Week Low – Here’s What Happened

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $89.97 and last traded at $90.83, with a volume of 24993 shares trading hands. The stock had previously closed at $90.08.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays reduced their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Four investment 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 has an average rating of “Hold” and an average target price of $128.25.

Fomento Económico Mexicano Stock Up 0.1 %

The business has a 50 day moving average price of $98.42 and a 200 day moving average price of $106.93. The firm has a market capitalization of $32.26 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 5.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44.

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 paid a dividend of $0.864 per share. This represents a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is currently 12.82%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FMX. Oldfield Partners LLP raised its stake in shares of Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after buying an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 valued at $167,000 after purchasing an additional 105 shares during the period. Baker Ellis Asset Management LLC raised its stake in Fomento Económico Mexicano by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after acquiring an additional 140 shares in the last quarter. Wealth Alliance boosted its position in Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after buying an additional 147 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Fomento Económico Mexicano by 1.2% in the third quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock valued at $1,232,000 after acquiring an additional 149 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.