Fomento Económico Mexicano (NYSE:FMX – Get Rating) had its price target increased by The Goldman Sachs Group from $95.60 to $109.20 in a research note released on Wednesday, Stock Target Advisor reports. They currently have a buy rating on the stock.
A number of other research firms have also recently weighed in on FMX. UBS Group upgraded Fomento Económico Mexicano from a neutral rating to a buy rating in a research note on Monday, October 10th. StockNews.com raised Fomento Económico Mexicano from a hold rating to a buy rating in a research report on Monday, October 31st. Finally, Barclays upped their price target on Fomento Económico Mexicano from $78.00 to $85.00 and gave the company an overweight rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano has an average rating of Moderate Buy and a consensus price target of $88.60.
Fomento Económico Mexicano Price Performance
Shares of FMX opened at $79.60 on Wednesday. The firm has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.88 and a beta of 0.91. The firm’s fifty day simple moving average is $67.97 and its 200-day simple moving average is $67.30. Fomento Económico Mexicano has a twelve month low of $58.73 and a twelve month high of $84.33. The company has a current ratio of 1.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.46.
Fomento Económico Mexicano Cuts Dividend
Institutional Trading of Fomento Económico Mexicano
Several institutional investors and hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D increased its stake in Fomento Económico Mexicano by 17.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 195,056 shares of the company’s stock valued at $16,160,000 after purchasing an additional 28,572 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Fomento Económico Mexicano by 1.8% during the first quarter. Russell Investments Group Ltd. now owns 310,991 shares of the company’s stock worth $25,811,000 after buying an additional 5,365 shares during the last quarter. DAVENPORT & Co LLC increased its position in Fomento Económico Mexicano by 7.5% in the 1st quarter. DAVENPORT & Co LLC now owns 20,352 shares of the company’s stock valued at $1,686,000 after acquiring an additional 1,422 shares during the period. Privium Fund Management B.V. purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at approximately $261,000. Finally, APG Asset Management N.V. lifted its position in Fomento Económico Mexicano by 15.2% during the 1st quarter. APG Asset Management N.V. now owns 78,754 shares of the company’s stock worth $5,864,000 after acquiring an additional 10,400 shares during the period. Hedge funds and other institutional investors own 19.15% of the company’s stock.
About Fomento Económico Mexicano
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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