UBS Group Raises Fomento Económico Mexicano (NYSE:FMX) Price Target to $107.00

Fomento Económico Mexicano (NYSE:FMX) had its price target hoisted by UBS Group from $94.00 to $107.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Barclays raised their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $103.95.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock opened at $99.04 on Friday. The firm has a market cap of $35.43 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano has a 52-week low of $81.07 and a 52-week high of $131.56. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $88.73 and its two-hundred day moving average is $92.72.

Fomento Económico Mexicano (NYSE:FMX) last released its 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 return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. On average, research analysts expect that Fomento Económico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

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

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently bought and sold shares of FMX. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 154 shares in the last quarter. Banque Transatlantique SA purchased a new position in Fomento Económico Mexicano during the 4th quarter worth $44,000. Mather Group LLC. grew its position in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after purchasing an additional 369 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Fomento Económico Mexicano during the 4th quarter worth $51,000. Finally, Banque Cantonale Vaudoise purchased a new position in Fomento Económico Mexicano during the 3rd quarter worth $55,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.