Fomento Economico Mexicano (NYSE:FMX) Stock Rating Raised to “Overweight” at JPMorgan Chase & Co.

Fomento Economico Mexicano (NYSE:FMX) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $151.00 price objective on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 24.87% from the company’s current price.

Several other brokerages have also weighed in on FMX. UBS Group decreased their target price on shares of Fomento Economico Mexicano from $139.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Benchmark raised shares of Fomento Economico Mexicano to an “overweight” rating in a research report on Friday. Barclays raised their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Finally, Zacks Research cut shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.83.

Fomento Economico Mexicano Stock Up 0.2%

FMX opened at $120.92 on Friday. Fomento Economico Mexicano has a fifty-two week low of $90.87 and a fifty-two week high of $141.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The firm’s fifty day moving average price is $119.43 and its two-hundred day moving average price is $121.46. The company has a market capitalization of $41.78 billion, a P/E ratio of 24.18, a P/E/G ratio of 0.64 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. The firm had revenue of $13.20 billion for the quarter. On average, analysts anticipate that Fomento Economico Mexicano will post 6.35 EPS for the current year.

Insider Activity

In related news, Director Michael David Kahn acquired 2,100 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $118.13 per share, with a total value of $248,073.00. Following the completion of the acquisition, the director owned 2,100 shares in the company, valued at $248,073. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several large investors have recently made changes to their positions in FMX. Assenagon Asset Management S.A. increased its position in shares of Fomento Economico Mexicano by 367.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 88,097 shares of the company’s stock worth $10,445,000 after purchasing an additional 69,245 shares in the last quarter. Ninety One UK Ltd boosted its position in Fomento Economico Mexicano by 75.2% in the third quarter. Ninety One UK Ltd now owns 844,817 shares of the company’s stock valued at $100,162,000 after buying an additional 362,738 shares in the last quarter. Ninety One North America Inc. boosted its position in Fomento Economico Mexicano by 111.0% in the third quarter. Ninety One North America Inc. now owns 226,502 shares of the company’s stock valued at $26,854,000 after buying an additional 119,174 shares in the last quarter. GAMMA Investing LLC grew its stake in Fomento Economico Mexicano by 79.2% during the third quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock worth $47,000 after buying an additional 175 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in Fomento Economico Mexicano by 33.3% during the second quarter. QRG Capital Management Inc. now owns 2,557 shares of the company’s stock worth $327,000 after buying an additional 639 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.