Fomento Económico Mexicano (NYSE:FMX) Rating Lowered to Equal Weight at Barclays

Fomento Económico Mexicano (NYSE:FMX) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, MarketBeat.com reports.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $126.33.

Fomento Económico Mexicano Stock Down 0.8 %

Shares of NYSE FMX opened at $84.33 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The firm’s 50-day moving average is $86.86 and its two-hundred day moving average is $98.16. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $143.43. The company has a market capitalization of $30.17 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 4.76 and a beta of 0.90.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group lifted its holdings in shares of Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 154 shares during the period. Banque Cantonale Vaudoise purchased a new position in Fomento Económico Mexicano during the third quarter worth approximately $55,000. Exchange Traded Concepts LLC acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at $51,000. Rosenberg Matthew Hamilton grew its stake in shares of Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Fomento Económico Mexicano by 61.7% during the 3rd 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 last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.