Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) was upgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a report issued on Monday.

Several other equities research analysts also recently issued reports on FMX. Citigroup Inc. downgraded shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a report on Thursday, August 24th. Finally, BidaskClub raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Fomento Economico Mexicano S.A.B. de C.V. currently has an average rating of “Buy” and an average target price of $108.25.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) opened at 95.53 on Monday. The company’s 50-day moving average price is $99.66 and its 200-day moving average price is $95.15. The firm has a market cap of $34.18 billion, a PE ratio of 28.18 and a beta of 0.55. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $73.45 and a 52-week high of $103.82.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last announced its earnings results on Tuesday, July 25th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.11). The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. Equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.48 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMX. Permit Capital LLC boosted its position in Fomento Economico Mexicano S.A.B. de C.V. by 12.8% during the 2nd quarter. Permit Capital LLC now owns 1,100 shares of the company’s stock worth $109,000 after acquiring an additional 125 shares during the last quarter. Intrust Bank NA bought a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the 2nd quarter worth approximately $200,000. OxFORD Asset Management LLP bought a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the 2nd quarter worth approximately $201,000. Laurel Wealth Advisors Inc. bought a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the 2nd quarter worth approximately $202,000. Finally, Quantum Capital Management bought a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 21.62% of the company’s stock.

Fomento Economico Mexicano S.A.B. de C.V. Company Profile

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

Analyst Recommendations for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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