Fomento Económico Mexicano (NYSE:FMX) Downgraded by StockNews.com

Fomento Económico Mexicano (NYSE:FMX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other research firms also recently commented on FMX. Barclays cut their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their target price for the company from $104.00 to $109.00 in a report on Monday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Fomento Económico Mexicano currently has a consensus rating of “Hold” and a consensus price target of $133.40.

Fomento Económico Mexicano Price Performance

FMX stock traded up $0.58 during mid-day trading on Monday, hitting $100.33. The stock had a trading volume of 567,124 shares, compared to its average volume of 694,248. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $35.90 billion, a P/E ratio of 27.19, a P/E/G ratio of 5.75 and a beta of 0.94. The firm has a fifty day simple moving average of $107.71 and a 200 day simple moving average of $114.33. Fomento Económico Mexicano has a 52 week low of $98.97 and a 52 week high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The firm had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, research analysts forecast that Fomento Económico Mexicano will post 5.44 EPS for the current year.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of institutional investors and hedge funds have recently made changes to their positions in FMX. Park Place Capital Corp grew its stake in shares of Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares in the last quarter. Oldfield Partners LLP increased its stake in shares of Fomento Económico Mexicano by 0.8% in the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock worth $1,432,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Fomento Económico Mexicano by 8.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after buying an additional 105 shares during the period. Parallel Advisors LLC raised its stake 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 purchasing an additional 134 shares during the period. Finally, Baker Ellis Asset Management LLC lifted its holdings in shares of Fomento Económico Mexicano by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after buying an additional 140 shares in the last quarter.

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.