Fomento Económico Mexicano (NYSE:FMX) Hits New 1-Year Low – Should You Sell?

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $85.27 and last traded at $85.69, with a volume of 113981 shares changing hands. The stock had previously closed at $86.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FMX. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays reduced their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of “Moderate Buy” and an average target price of $126.33.

Fomento Económico Mexicano Stock Performance

The firm has a fifty day moving average price of $92.83 and a 200 day moving average price of $102.17. The firm has a market capitalization of $30.66 billion, a PE ratio of 21.97, a P/E/G ratio of 5.23 and a beta of 0.90. 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 company also recently announced an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were paid a $0.864 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 12.82%.

Hedge Funds Weigh In On Fomento Económico Mexicano

Hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of Fomento Económico Mexicano in the third quarter valued at approximately $55,000. Van ECK Associates Corp boosted its holdings in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares during the period. Fielder Capital Group LLC acquired a new stake in Fomento Económico Mexicano in the 2nd quarter valued at approximately $242,000. Whittier Trust Co. of Nevada Inc. increased its position in Fomento Económico Mexicano by 24.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company’s stock worth $245,000 after buying an additional 449 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Fomento Económico Mexicano by 67.3% during the second quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock worth $308,000 after buying an additional 1,151 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.