Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $89.04.
A number of analysts have recently commented on FMX shares. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. The Goldman Sachs Group boosted their target price on shares of Fomento Económico Mexicano from $95.60 to $109.20 and gave the company a “buy” rating in a research note on Wednesday, November 16th. Barclays upped their price objective on Fomento Económico Mexicano from $85.00 to $88.00 in a research note on Monday, December 19th. Finally, UBS Group upgraded Fomento Económico Mexicano from a “neutral” rating to a “buy” rating in a research note on Monday, October 10th.
Fomento Económico Mexicano Trading Down 1.3 %
NYSE FMX opened at $83.68 on Friday. The company has a market capitalization of $29.94 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.71 and a beta of 0.91. The stock’s 50-day simple moving average is $79.35 and its two-hundred day simple moving average is $69.71. The company has a quick ratio of 1.06, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. Fomento Económico Mexicano has a twelve month low of $58.73 and a twelve month high of $87.88.
Institutional Investors Weigh In On Fomento Económico Mexicano
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Fomento Económico Mexicano by 1.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,976,043 shares of the company’s stock worth $268,343,000 after purchasing an additional 42,600 shares during the last quarter. BlackRock Inc. increased its stake in shares of Fomento Económico Mexicano by 11.0% during the third quarter. BlackRock Inc. now owns 3,056,875 shares of the company’s stock worth $191,820,000 after purchasing an additional 302,363 shares in the last quarter. Comgest Global Investors S.A.S. boosted its position in Fomento Económico Mexicano by 10.4% during the third quarter. Comgest Global Investors S.A.S. now owns 2,202,050 shares of the company’s stock worth $138,179,000 after acquiring an additional 207,025 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Fomento Económico Mexicano by 5.3% during the second quarter. JPMorgan Chase & Co. now owns 1,791,321 shares of the company’s stock worth $120,897,000 after acquiring an additional 90,297 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Fomento Económico Mexicano by 20.4% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,734,301 shares of the company’s stock valued at $108,827,000 after purchasing an additional 294,235 shares during the last quarter. 21.07% of the stock is currently owned by institutional investors and hedge funds.
Fomento Económico Mexicano Company Profile
Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.
- Get a free copy of the StockNews.com research report on Fomento Económico Mexicano (FMX)
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