Wall Street Zen Downgrades Fomento Economico Mexicano (NYSE:FMX) to Hold

Fomento Economico Mexicano (NYSE:FMX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

FMX has been the topic of a number of other research reports. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. UBS Group raised their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. lifted their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Barclays upped their price target on 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, Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Fomento Economico Mexicano currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Fomento Economico Mexicano Trading Up 0.0%

Shares of FMX opened at $129.07 on Friday. The firm’s 50-day moving average price is $125.19 and its 200-day moving average price is $115.22. The firm has a market capitalization of $44.60 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 0.70 and a beta of 0.41. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. Fomento Economico Mexicano has a 1-year low of $83.08 and a 1-year high of $134.52.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The company had revenue of $11.61 billion for the quarter. Sell-side analysts anticipate that Fomento Economico Mexicano will post 6.19 EPS for the current year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Fomento Economico Mexicano by 7.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock worth $134,000 after buying an additional 96 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after acquiring an additional 96 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Arax Advisory Partners boosted its position in shares of Fomento Economico Mexicano by 20.1% during the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after acquiring an additional 136 shares during the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of Fomento Economico Mexicano by 5.8% in the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after purchasing an additional 136 shares in 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 Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.