Fomento Económico Mexicano (NYSE:FMX – Get Rating) was upgraded by equities research analysts at FIG Partners from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has a $90.00 price objective on the stock. FIG Partners’ price target points to a potential upside of 20.26% from the company’s previous close.
Several other equities research analysts have also commented on FMX. Zacks Investment Research lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a research report on Tuesday, April 19th. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. HSBC lowered shares of Fomento Económico Mexicano from a “hold” rating to a “reduce” rating and set a $68.00 price target for the company. in a research report on Thursday, May 5th. Finally, UBS Group lowered shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $86.00 in a research report on Tuesday, February 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $85.57.
FMX opened at $74.84 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 1.61. The stock has a market capitalization of $26.78 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.32 and a beta of 1.04. The company’s 50-day simple moving average is $76.68 and its two-hundred day simple moving average is $76.77. Fomento Económico Mexicano has a 52-week low of $67.53 and a 52-week high of $89.59.
Institutional investors have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC increased its holdings in Fomento Económico Mexicano by 125.9% in the 1st quarter. Fieldpoint Private Securities LLC now owns 323 shares of the company’s stock worth $27,000 after acquiring an additional 180 shares in the last quarter. Sageworth Trust Co of South Dakota purchased a new stake in Fomento Económico Mexicano during the 4th quarter valued at approximately $31,000. Brown Brothers Harriman & Co. grew its holdings in Fomento Económico Mexicano by 117.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock valued at $35,000 after buying an additional 227 shares in the last quarter. Concord Wealth Partners purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at approximately $36,000. Finally, Marshall Wace LLP purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at approximately $36,000. 51.65% of the stock is owned by institutional investors.
About Fomento Económico Mexicano (Get Rating)
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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