BidaskClub cut shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) from a strong-buy rating to a buy rating in a research report released on Friday morning.

FMX has been the subject of several other reports. Barclays PLC dropped their target price on shares of Fomento Economico Mexicano S.A.B. de C.V. from $106.00 to $92.00 and set an overweight rating for the company in a research report on Monday, May 1st. Gabelli initiated coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They issued a buy rating and a $112.00 target price for the company. 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 $112.00 target price for the company in a research report on Friday, July 14th. Finally, Citigroup Inc. cut 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $105.33.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (FMX) traded down 0.02% during mid-day trading on Friday, reaching $100.86. 52,419 shares of the company’s stock traded hands. The stock has a market cap of $36.09 billion, a PE ratio of 29.32 and a beta of 0.57. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $73.45 and a 12 month high of $103.82. The firm has a 50 day moving average price of $98.76 and a 200-day moving average price of $89.97.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last issued 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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a net margin of 5.26% and a return on equity of 8.42%. On average, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post $3.46 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Howe & Rusling Inc. raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 288.4% in the first quarter. Howe & Rusling Inc. now owns 1,301 shares of the company’s stock valued at $115,000 after buying an additional 966 shares during the period. ING Groep NV bought a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the second quarter valued at about $211,000. Creative Planning raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 658.7% in the first quarter. Creative Planning now owns 2,534 shares of the company’s stock valued at $224,000 after buying an additional 2,200 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the first quarter valued at about $239,000. Finally, First Trust Advisors LP bought a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the first quarter valued at about $240,000. 23.86% of the stock is currently owned by institutional investors.

About Fomento Economico Mexicano S.A.B. de C.V.

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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