Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives $126.33 Average Target Price from Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $126.33.

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of 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. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th.

Fomento Económico Mexicano Stock Down 1.4 %

Fomento Económico Mexicano stock opened at $83.93 on Monday. Fomento Económico Mexicano has a 52 week low of $81.07 and a 52 week high of $143.43. The stock has a market cap of $30.03 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 5.19 and a beta of 0.90. The company’s 50-day moving average price is $89.24 and its two-hundred day moving average price is $99.74. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Fomento Económico Mexicano during the 3rd quarter valued at $7,672,000. BNP Paribas Financial Markets lifted its holdings in shares of Fomento Económico Mexicano by 107.7% during the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after purchasing an additional 169,184 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after purchasing an additional 416,000 shares during the period. Perpetual Ltd boosted its position in shares of 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 purchasing an additional 64,291 shares during the period. Finally, Baillie Gifford & Co. increased its stake in Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.