Fomento Económico Mexicano (NYSE:FMX) Upgraded at StockNews.com

Fomento Económico Mexicano (NYSE:FMX) 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.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $96.24 on Wednesday. Fomento Económico Mexicano has a twelve month low of $94.86 and a twelve month high of $143.43. The stock’s 50 day moving average is $99.77 and its two-hundred day moving average is $108.24. The firm has a market capitalization of $34.43 billion, a PE ratio of 24.68, a P/E/G ratio of 5.47 and a beta of 0.94. 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 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.