Fomento Económico Mexicano (NYSE:FMX) Upgraded by Itau BBA Securities to “Outperform” Rating

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

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

Fomento Económico Mexicano Stock Down 4.6 %

NYSE:FMX opened at $96.77 on Monday. The business’s fifty day moving average price is $93.27 and its 200 day moving average price is $92.16. The firm has a market capitalization of $34.62 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 5.26 and a beta of 0.68. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano has a 1-year low of $81.08 and a 1-year high of $130.00.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of Fomento Económico Mexicano by 4.2% during 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 during the last quarter. Stifel Financial Corp increased its position in Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after buying an additional 149 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after acquiring an additional 176 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Fomento Económico Mexicano by 29.7% in the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

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.