Fomento Económico Mexicano (NYSE:FMX) Hits New 12-Month Low - Here's Why

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report) shares hit a new 52-week low on Friday . The company traded as low as $83.62 and last traded at $83.78, with a volume of 19887 shares traded. The stock had previously closed at $85.42.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays cut their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $126.33.

Fomento Económico Mexicano Price Performance

The company's 50-day moving average price is $90.33 and its two-hundred day moving average price is $100.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The company has a market capitalization of $29.06 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new position in shares of Fomento Económico Mexicano during the third quarter worth approximately $55,000. Van ECK Associates Corp grew 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 valued at $78,000 after buying an additional 306 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Fomento Económico Mexicano by 9.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock worth $245,000 after buying an additional 204 shares during the period. MQS Management LLC acquired a new stake in shares of Fomento Económico Mexicano during the third quarter worth $369,000. Finally, Wealth Alliance boosted its position in shares of Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company's stock valued at $378,000 after acquiring an additional 147 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

About Fomento Económico Mexicano

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.