Fomento Económico Mexicano (NYSE:FMX) Trading 5.6% Higher – Here’s What Happened

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)’s stock price was up 5.6% during trading on Thursday . The stock traded as high as $96.85 and last traded at $94.49. Approximately 130,285 shares were traded during trading, a decline of 73% from the average daily volume of 489,451 shares. The stock had previously closed at $89.47.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

Fomento Económico Mexicano Price Performance

The business’s fifty day moving average price is $86.31 and its 200-day moving average price is $93.78. The company has a market capitalization of $33.45 billion, a P/E ratio of 23.96, a P/E/G ratio of 5.26 and a beta of 0.90. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were issued a $0.9201 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s payout ratio is presently 11.79%.

Institutional Trading of Fomento Económico Mexicano

Several hedge funds have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC increased its stake in shares of Fomento Económico Mexicano by 20.5% in the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock worth $1,081,939,000 after buying an additional 2,150,913 shares during the period. Royal Bank of Canada raised its holdings in Fomento Económico Mexicano by 5.5% in the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company’s stock worth $450,454,000 after purchasing an additional 274,467 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock worth $369,786,000 after acquiring an additional 18,750 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Fomento Económico Mexicano by 20.4% during the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after purchasing an additional 717,666 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Fomento Económico Mexicano by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock worth $276,832,000 after acquiring an additional 205,981 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

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.