Fomento Económico Mexicano (NYSE:FMX) Hits New 12-Month Low – What’s Next?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) reached a new 52-week low during trading on Friday . The stock traded as low as $83.62 and last traded at $83.78, with a volume of 19887 shares. The stock had previously closed at $85.42.

Wall Street Analysts Forecast Growth

FMX has been the topic of a number of recent analyst reports. StockNews.com raised 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 increased their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays cut their price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Fomento Económico Mexicano Price Performance

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 company’s 50 day simple moving average is $90.02 and its 200 day simple moving average is $100.28. The company has a market capitalization of $29.06 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several large investors have recently bought and sold shares of FMX. Banque Cantonale Vaudoise acquired a new stake in shares of Fomento Económico Mexicano during the third quarter worth about $55,000. Van ECK Associates Corp increased its position in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after buying an additional 306 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Fomento Económico Mexicano by 9.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock worth $245,000 after buying an additional 204 shares during the period. MQS Management LLC purchased a new stake in Fomento Económico Mexicano in the third quarter valued at approximately $369,000. Finally, Wealth Alliance boosted its holdings in shares of Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after acquiring an additional 147 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.