Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have been assigned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $126.33.

FMX has been the subject of a number of research reports. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays lowered their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the company from $104.00 to $109.00 in a research note on Monday, September 23rd.

Fomento Económico Mexicano Trading Down 4.9 %

NYSE FMX opened at $81.23 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano has a one year low of $81.07 and a one year high of $143.43. The company has a 50-day simple moving average of $90.02 and a 200-day simple moving average of $100.23. The firm 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.

Institutional Trading of Fomento Económico Mexicano

Large investors have recently added to or reduced their stakes in the business. Oldfield Partners LLP increased its holdings in shares of Fomento Económico Mexicano by 0.8% during the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after purchasing an additional 100 shares during the period. Wealth Alliance grew its position in Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after buying an additional 147 shares in the last quarter. Stifel Financial Corp increased its stake in Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock valued at $1,232,000 after buying an additional 149 shares during the period. Cerity Partners LLC raised its position in shares of Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after buying an additional 191 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Fomento Económico Mexicano by 9.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock worth $245,000 after acquiring an additional 204 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.