Fomento Económico Mexicano (NYSE:FMX) Rating Increased to Outperform at Itau BBA Securities

Fomento Económico Mexicano (NYSE:FMX) was upgraded by research analysts at Itau BBA Securities from a “market perform” rating to an “outperform” rating in a report released on Monday,Finviz reports.

Several other research firms have also recently issued reports on FMX. Barclays upped their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group increased their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $96.77 on Monday. 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 company’s fifty day moving average price is $93.27 and its two-hundred day moving average price is $92.16. The firm has a market capitalization of $34.62 billion, a P/E ratio of 24.81, a P/E/G ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano has a 12 month low of $81.08 and a 12 month high of $130.00.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The business had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. On average, research analysts anticipate that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Institutional Trading of Fomento Económico Mexicano

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of Fomento Económico Mexicano by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company’s stock worth $266,000 after purchasing an additional 125 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after acquiring an additional 149 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Fomento Económico Mexicano by 82.8% in 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 last quarter. Rosenberg Matthew Hamilton raised its position in shares of Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after purchasing an additional 203 shares during the last quarter. 61.00% of the stock is currently 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.