Fomento Económico Mexicano (NYSE:FMX – Get Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
A number of other equities research analysts have also weighed in on FMX. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Barclays lowered their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $128.00.
View Our Latest Stock Report on FMX
Fomento Económico Mexicano Price Performance
Institutional Investors Weigh In On Fomento Económico Mexicano
Several institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Fomento Económico Mexicano by 30.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,350 shares of the company’s stock valued at $306,000 after buying an additional 550 shares during the last quarter. Norden Group LLC purchased a new position in Fomento Económico Mexicano during the first quarter worth $404,000. Janney Montgomery Scott LLC purchased a new position in Fomento Económico Mexicano during the first quarter worth $350,000. ANTIPODES PARTNERS Ltd increased its position in Fomento Económico Mexicano by 19.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock worth $123,169,000 after buying an additional 153,771 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its position in Fomento Económico Mexicano by 9.7% during the first quarter. Capital Wealth Planning LLC now owns 20,625 shares of the company’s stock worth $2,687,000 after buying an additional 1,816 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.
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