Fomento Económico Mexicano (NYSE:FMX – Free Report) had its price target hoisted by UBS Group from $94.00 to $107.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.
Several other analysts have also recently weighed in on the stock. Barclays lifted their price target 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. The Goldman Sachs Group cut 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.95.
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Fomento Económico Mexicano Price Performance
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The business had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, equities analysts predict that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.
Fomento Económico Mexicano Increases Dividend
The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a $0.9201 dividend. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s payout ratio is 11.03%.
Hedge Funds Weigh In On Fomento Económico Mexicano
Large investors have recently modified their holdings of the stock. Brooklyn Investment Group lifted its stake in shares of Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares in the last quarter. Banque Transatlantique SA purchased a new position in Fomento Económico Mexicano in the 4th quarter worth approximately $44,000. Banque Cantonale Vaudoise bought a new position in Fomento Económico Mexicano in the 3rd quarter valued at approximately $55,000. Mather Group LLC. boosted its stake in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 369 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Fomento Económico Mexicano in the 4th quarter worth $51,000. Hedge funds and other institutional investors 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.
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