StockNews.com Upgrades Fomento Económico Mexicano (NYSE:FMX) to “Buy”

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

Several other equities research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of 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. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $128.25.

Fomento Económico Mexicano Trading Up 0.1 %

Shares of NYSE:FMX traded up $0.11 during trading on Wednesday, reaching $97.12. The stock had a trading volume of 81,159 shares, compared to its average volume of 683,557. Fomento Económico Mexicano has a 52 week low of $93.32 and a 52 week high of $143.43. The firm’s fifty day moving average is $99.61 and its 200 day moving average is $108.16. The stock has a market cap of $34.75 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 5.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Councilmark Asset Management LLC purchased a new position in shares of Fomento Económico Mexicano in the 1st quarter worth approximately $1,155,000. Manning & Napier Advisors LLC purchased a new stake in shares of Fomento Económico Mexicano during the 2nd quarter valued at $2,994,000. Klein Pavlis & Peasley Financial Inc. raised its stake in shares of Fomento Económico Mexicano by 29.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company’s stock worth $2,595,000 after purchasing an additional 5,505 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after buying an additional 416,000 shares during the period. Finally, Perpetual Ltd increased its holdings in Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after buying an additional 64,291 shares during 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.