Fomento Económico Mexicano (NYSE:FMX) Stock Rating Upgraded by Itau BBA Securities

Itau BBA Securities upgraded shares of Fomento Económico Mexicano (NYSE:FMX - Free Report) from a market perform rating to an outperform rating in a research note released on Monday morning, Marketbeat reports.

FMX has been the topic of several other research reports. The Goldman Sachs Group lowered their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. UBS Group raised their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, March 14th. Finally, Barclays lifted their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.95.

Fomento Económico Mexicano Price Performance

Shares of FMX stock traded up $1.70 during trading hours on Monday, reaching $98.44. The stock had a trading volume of 660,576 shares, compared to its average volume of 636,377. The stock's fifty day simple moving average is $94.63 and its 200 day simple moving average is $92.04. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $35.22 billion, a PE ratio of 25.24, a PEG ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano has a 12 month low of $81.08 and a 12 month high of $125.27.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.99 billion for the quarter, compared to analysts' expectations of $201.67 billion. On average, equities research analysts predict that Fomento Económico Mexicano will post 5.32 EPS for the current year.

Institutional Trading of Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently bought and sold shares of FMX. First Eagle Investment Management LLC grew its stake in shares of Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock valued at $1,081,939,000 after buying an additional 2,150,913 shares during the last quarter. Royal Bank of Canada grew its position in Fomento Económico Mexicano by 5.5% during the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock worth $450,454,000 after acquiring an additional 274,467 shares during the last quarter. Baillie Gifford & Co. increased its stake in Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock worth $369,786,000 after purchasing an additional 18,750 shares during the period. Schroder Investment Management Group lifted its position in Fomento Económico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after purchasing an additional 717,666 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Fomento Económico Mexicano by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock valued at $276,832,000 after purchasing an additional 205,981 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

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.