Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has been given an average rating of “Moderate Buy” by the four analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $126.33.

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays lowered their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. raised its position in Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after purchasing an additional 421,057 shares during the last quarter. Black Creek Investment Management Inc. raised its holdings in Fomento Económico Mexicano by 15.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after buying an additional 121,800 shares during the last quarter. Perpetual Ltd raised its holdings in Fomento Económico Mexicano by 9.4% in the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after buying an additional 64,291 shares during the last quarter. FMR LLC boosted its position in Fomento Económico Mexicano by 5.3% during the 3rd quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after buying an additional 24,537 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Down 1.8 %

Shares of NYSE FMX opened at $82.36 on Monday. Fomento Económico Mexicano has a 52 week low of $81.07 and a 52 week high of $143.43. The stock’s fifty day moving average is $88.69 and its 200 day moving average is $99.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The stock has a market capitalization of $29.47 billion, a P/E ratio of 21.12, a PEG ratio of 5.19 and a beta of 0.90.

Fomento Económico Mexicano Company Profile

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.