Analysts’ Recent Ratings Updates for Fomento Económico Mexicano (FMX)

A number of research firms have changed their ratings and price targets for Fomento Económico Mexicano (NYSE: FMX):

• 8/3/2022 – Fomento Económico Mexicano was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/29/2022 – Fomento Económico Mexicano had its price target lowered by analysts at Barclays PLC from $92.00 to $78.00.
• 7/26/2022 – Fomento Económico Mexicano was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/18/2022 – Fomento Económico Mexicano was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 6/17/2022 – Fomento Económico Mexicano was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 6/9/2022 – Fomento Económico Mexicano was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Fomento Económico Mexicano Price Performance

NYSE FMX opened at $59.60 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.61 and a debt-to-equity ratio of 0.52. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $58.73 and a 12-month high of $89.59. The company has a market capitalization of $21.33 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The firm’s 50 day moving average is $66.34 and its 200-day moving average is $73.63.

Fomento Económico Mexicano (NYSE:FMX – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.27). Fomento Económico Mexicano had a net margin of 5.35% and a return on equity of 9.84%. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.83 billion. Equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 3.78 earnings per share for the current fiscal year.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harding Loevner LP grew its stake in shares of Fomento Económico Mexicano by 17.8% in the first quarter. Harding Loevner LP now owns 9,816,327 shares of the company’s stock valued at $702,332,000 after buying an additional 1,481,847 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Fomento Económico Mexicano by 428.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,285,157 shares of the company’s stock valued at $96,962,000 after buying an additional 1,041,809 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Fomento Económico Mexicano by 39.7% in the fourth quarter. Schroder Investment Management Group now owns 2,974,939 shares of the company’s stock valued at $23,119,000 after buying an additional 845,723 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Fomento Económico Mexicano by 54.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,611,679 shares of the company’s stock valued at $125,244,000 after buying an additional 566,052 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Fomento Económico Mexicano by 438.8% in the first quarter. Bank of America Corp DE now owns 655,613 shares of the company’s stock valued at $54,317,000 after buying an additional 533,936 shares in the last quarter. 51.65% of the stock is currently owned by institutional investors and hedge funds.

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.