JPMorgan Chase & Co. Downgrades Fomento Económico Mexicano (NYSE:FMX) to Neutral

Fomento Económico Mexicano (NYSE:FMX) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday, Briefing.com reports. They presently have a $109.00 price target on the stock, up from their prior price target of $104.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.27% from the company’s current price.

Several other research firms have also weighed in on FMX. Barclays reduced their price objective on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $133.40.

Fomento Económico Mexicano Trading Down 2.4 %

Fomento Económico Mexicano stock opened at $99.75 on Monday. Fomento Económico Mexicano has a 12-month low of $99.02 and a 12-month high of $143.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The stock has a market capitalization of $35.69 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. The firm has a 50 day simple moving average of $108.01 and a 200-day simple moving average of $114.48.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data 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 company had revenue of $11.54 billion for the quarter. As a group, equities research analysts expect that Fomento Económico Mexicano will post 5.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several institutional investors and hedge funds have recently bought and sold shares of the business. Park Place Capital Corp increased its stake in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after buying an additional 97 shares during the period. Mather Group LLC. acquired a new position in Fomento Económico Mexicano in the 1st quarter worth about $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Fomento Económico Mexicano during the 2nd quarter worth about $51,000. Parallel Advisors LLC lifted its holdings in shares of Fomento Económico Mexicano by 22.1% during the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after buying an additional 134 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after buying an additional 213 shares in 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.