Fomento Económico Mexicano (NYSE:FMX) Raised to Buy at StockNews.com

Fomento Económico Mexicano (NYSE:FMX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

FMX has been the topic of a number of other reports. Barclays lowered their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and a consensus target price of $128.25.

Fomento Económico Mexicano Stock Performance

Shares of NYSE:FMX traded up $0.11 during trading on Wednesday, reaching $97.12. 81,159 shares of the stock were exchanged, compared to its average volume of 683,557. Fomento Económico Mexicano has a 12 month low of $93.32 and a 12 month high of $143.43. The stock has a 50-day moving average price of $99.61 and a 200-day moving average price of $108.16. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $34.75 billion, a PE ratio of 24.89, a PEG ratio of 5.52 and a beta of 0.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano in the second quarter valued at approximately $51,000. Banque Cantonale Vaudoise bought a new stake in Fomento Económico Mexicano during the 3rd quarter worth $55,000. Van ECK Associates Corp increased its holdings in Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after purchasing an additional 306 shares in the last quarter. CWM LLC raised its position in Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Fomento Económico Mexicano by 8.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock valued at $167,000 after purchasing an additional 105 shares in the last quarter.

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.