Fomento Económico Mexicano (NYSE:FMX) Sets New 52-Week Low – Should You Sell?

by · The Markets Daily

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $85.27 and last traded at $85.69, with a volume of 113981 shares traded. The stock had previously closed at $86.80.

Analyst Ratings Changes

FMX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Barclays lowered their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.33.

View Our Latest Analysis on FMX

Fomento Económico Mexicano Price Performance

The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $92.33 and its two-hundred day moving average price is $101.92. The stock has a market cap of $31.23 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90.

Fomento Económico Mexicano Cuts Dividend

The company also recently announced an annual dividend, which was paid on Monday, October 28th. Shareholders of record on Wednesday, October 16th were paid a dividend of $0.864 per share. This represents a yield of 0.87%. The ex-dividend date was Wednesday, October 16th. Fomento Económico Mexicano’s payout ratio is 12.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new position in shares of Fomento Económico Mexicano during the third quarter worth $55,000. Van ECK Associates Corp increased its stake in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after purchasing an additional 306 shares during the period. Fielder Capital Group LLC purchased a new stake in shares of Fomento Económico Mexicano in the 2nd quarter valued at approximately $242,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Fomento Económico Mexicano by 24.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,275 shares of the company’s stock worth $245,000 after acquiring an additional 449 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Fomento Económico Mexicano by 67.3% during the second quarter. SG Americas Securities LLC now owns 2,862 shares of the company’s stock worth $308,000 after acquiring an additional 1,151 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Company Profile

(Get Free Report)

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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