Fomento Económico Mexicano (NYSE:FMX) Sets New 1-Year Low on Analyst Downgrade

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s share price hit a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $125.00 to $118.00. Barclays currently has an overweight rating on the stock. Fomento Económico Mexicano traded as low as $94.95 and last traded at $95.62, with a volume of 12827 shares traded. The stock had previously closed at $96.80.

Several other research firms also recently weighed in on FMX. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $128.00.

Institutional Investors Weigh In On Fomento Económico Mexicano

Institutional investors have recently bought and sold shares of the business. Councilmark Asset Management LLC purchased a new stake in shares of Fomento Económico Mexicano during the first quarter worth about $1,155,000. Manning & Napier Advisors LLC bought a new position in Fomento Económico Mexicano in the 2nd quarter worth approximately $2,994,000. Klein Pavlis & Peasley Financial Inc. grew its holdings in Fomento Económico Mexicano by 29.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock valued at $2,595,000 after buying an additional 5,505 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after buying an additional 416,000 shares during the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after buying an additional 64,291 shares in the last quarter.

Fomento Económico Mexicano Trading Up 0.9 %

The stock has a market cap of $34.67 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 5.59 and a beta of 0.94. The stock’s 50-day moving average is $100.32 and its two-hundred day moving average is $108.89. 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 disclosed an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.864 per share. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 12.82%.

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.