The Goldman Sachs Group Raises Fomento Económico Mexicano (NYSE:FMX) Price Target to $109.20

Fomento Económico Mexicano (NYSE:FMXGet Rating) had its price target increased by The Goldman Sachs Group from $95.60 to $109.20 in a research note released on Wednesday, Stock Target Advisor reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on FMX. UBS Group upgraded Fomento Económico Mexicano from a neutral rating to a buy rating in a research note on Monday, October 10th. StockNews.com raised Fomento Económico Mexicano from a hold rating to a buy rating in a research report on Monday, October 31st. Finally, Barclays upped their price target on Fomento Económico Mexicano from $78.00 to $85.00 and gave the company an overweight rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano has an average rating of Moderate Buy and a consensus price target of $88.60.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $79.60 on Wednesday. The firm has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.88 and a beta of 0.91. The firm’s fifty day simple moving average is $67.97 and its 200-day simple moving average is $67.30. Fomento Económico Mexicano has a twelve month low of $58.73 and a twelve month high of $84.33. The company has a current ratio of 1.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.46.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, November 17th. Stockholders of record on Friday, November 4th were given a dividend of $0.847 per share. The ex-dividend date was Thursday, November 3rd. This represents a dividend yield of 2.1%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 46.09%.

Institutional Trading of Fomento Económico Mexicano

Several institutional investors and hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D increased its stake in Fomento Económico Mexicano by 17.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 195,056 shares of the company’s stock valued at $16,160,000 after purchasing an additional 28,572 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Fomento Económico Mexicano by 1.8% during the first quarter. Russell Investments Group Ltd. now owns 310,991 shares of the company’s stock worth $25,811,000 after buying an additional 5,365 shares during the last quarter. DAVENPORT & Co LLC increased its position in Fomento Económico Mexicano by 7.5% in the 1st quarter. DAVENPORT & Co LLC now owns 20,352 shares of the company’s stock valued at $1,686,000 after acquiring an additional 1,422 shares during the period. Privium Fund Management B.V. purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at approximately $261,000. Finally, APG Asset Management N.V. lifted its position in Fomento Económico Mexicano by 15.2% during the 1st quarter. APG Asset Management N.V. now owns 78,754 shares of the company’s stock worth $5,864,000 after acquiring an additional 10,400 shares during the period. Hedge funds and other institutional investors own 19.15% of the company’s stock.

About Fomento Económico Mexicano

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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.

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Analyst Recommendations for Fomento Económico Mexicano (NYSE:FMX)

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