Fomento Economico Mexicano SAB (NYSE:FMX) Sets New 1-Year Low at $55.38

Fomento Economico Mexicano SAB (NYSE:FMX)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $55.38 and last traded at $55.47, with a volume of 58388 shares changing hands. The stock had previously closed at $56.91.

Separately, Zacks Investment Research downgraded shares of Fomento Economico Mexicano SAB from a “hold” rating to a “strong sell” rating and set a $66.00 price objective on the stock. in a research report on Tuesday, June 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $82.67.

The stock’s 50-day moving average price is $59.21 and its 200 day moving average price is $64.71. The firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 9.11 and a beta of 0.75. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 0.69.

Fomento Economico Mexicano SAB (NYSE:FMX) last announced its quarterly earnings data on Friday, July 24th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.92). The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Fomento Economico Mexicano SAB had a net margin of 2.55% and a return on equity of 4.65%. On average, sell-side analysts anticipate that Fomento Economico Mexicano SAB will post 1.29 earnings per share for the current year.

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.6896 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a yield of 2.6%. Fomento Economico Mexicano SAB’s payout ratio is currently 44.63%.

Several institutional investors and hedge funds have recently made changes to their positions in FMX. Schroder Investment Management Group grew its position in Fomento Economico Mexicano SAB by 4.3% in the 1st quarter. Schroder Investment Management Group now owns 4,306,470 shares of the company’s stock valued at $258,991,000 after buying an additional 176,765 shares during the last quarter. Comgest Global Investors S.A.S. boosted its position in shares of Fomento Economico Mexicano SAB by 0.8% during the 1st quarter. Comgest Global Investors S.A.S. now owns 3,690,798 shares of the company’s stock worth $223,330,000 after purchasing an additional 28,240 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Fomento Economico Mexicano SAB by 5.0% during the 1st quarter. Royal Bank of Canada now owns 3,322,219 shares of the company’s stock worth $201,027,000 after purchasing an additional 158,959 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of Fomento Economico Mexicano SAB by 14.1% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,567,919 shares of the company’s stock worth $159,237,000 after purchasing an additional 317,176 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Fomento Economico Mexicano SAB by 7.3% during the 1st quarter. Wells Fargo & Company MN now owns 2,384,242 shares of the company’s stock worth $144,271,000 after purchasing an additional 161,821 shares in the last quarter. Institutional investors and hedge funds own 18.44% of the company’s stock.

About Fomento Economico Mexicano SAB (NYSE:FMX)

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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

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