Fomento Económico Mexicano (NYSE:FMX) Trading Up 4.4% - Here's What Happened

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report)'s share price shot up 4.4% on Thursday . The company traded as high as $104.81 and last traded at $104.34. 42,932 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 623,538 shares. The stock had previously closed at $99.93.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group lifted their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, March 14th. Itau BBA Securities raised Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday. The Goldman Sachs Group dropped their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, Barclays raised their price objective on 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Fomento Económico Mexicano has an average rating of "Moderate Buy" and an average price target of $103.95.

Fomento Económico Mexicano Stock Up 0.7 %

The company's 50-day moving average is $93.42 and its 200 day moving average is $92.09. The stock has a market capitalization of $33.34 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

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Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The company had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. As a group, analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group boosted its position in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company's stock valued at $29,000 after buying an additional 154 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Fomento Económico Mexicano during the 4th quarter valued at approximately $44,000. Mather Group LLC. boosted its holdings in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company's stock valued at $49,000 after acquiring an additional 369 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Fomento Económico Mexicano in the fourth quarter worth $51,000. Finally, Rosenberg Matthew Hamilton lifted its position in Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock valued at $65,000 after purchasing an additional 176 shares during the period. 61.00% of the stock is 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.