Fomento Económico Mexicano (NYSE:FMX) Rating Lowered to Hold at StockNews.com

Fomento Económico Mexicano (NYSE:FMX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities analysts also recently commented on FMX. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their target price for the company from $104.00 to $109.00 in a report on Monday. Barclays cut their price objective on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $133.40.

Fomento Económico Mexicano Trading Up 0.6 %

Shares of Fomento Económico Mexicano stock traded up $0.58 during trading on Monday, reaching $100.33. The company’s stock had a trading volume of 567,124 shares, compared to its average volume of 694,248. The company has a market cap of $35.90 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 5.75 and a beta of 0.94. The firm’s 50-day moving average is $107.71 and its two-hundred day moving average is $114.33. Fomento Económico Mexicano has a 52-week low of $98.97 and a 52-week high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The business had revenue of $11.54 billion for the quarter. On average, sell-side analysts anticipate that Fomento Económico Mexicano will post 5.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hawk Ridge Capital Management LP purchased a new position in Fomento Económico Mexicano during the fourth quarter valued at $79,852,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Fomento Económico Mexicano by 740.2% during the second 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. Baillie Gifford & Co. boosted its holdings in shares of Fomento Económico Mexicano by 9.0% during the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after purchasing an additional 344,815 shares during the last quarter. Vontobel Asset Management Inc. grew its holdings in Fomento Económico Mexicano by 1,253.3% during the 4th quarter. Vontobel Asset Management Inc. now owns 362,616 shares of the company’s stock valued at $45,839,000 after buying an additional 335,822 shares in the last quarter. Finally, Sustainable Growth Advisers LP boosted its position in shares of Fomento Económico Mexicano by 122.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock valued at $56,785,000 after acquiring an additional 240,256 shares during the last quarter.

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.