Fomento Económico Mexicano (NYSE:FMX) Upgraded by StockNews.com to "Buy" Rating

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

Several other brokerages have also recently issued reports on FMX. Barclays dropped their target price on 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 lifted their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $128.00.

Fomento Económico Mexicano Stock Performance

NYSE FMX traded up $0.43 during trading hours on Wednesday, hitting $96.66. The company's stock had a trading volume of 789,549 shares, compared to its average volume of 687,398. Fomento Económico Mexicano has a 12 month low of $93.32 and a 12 month high of $143.43. The company's 50 day simple moving average is $99.61 and its two-hundred day simple moving average is $108.16. The company has a market cap of $34.58 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 5.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44.

Hedge Funds Weigh In On Fomento Económico Mexicano

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company's stock worth $425,118,000 after acquiring an additional 421,057 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock valued at $50,832,000 after buying an additional 416,000 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in shares of Fomento Económico Mexicano by 122.8% in the first quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company's stock valued at $56,785,000 after buying an additional 240,256 shares in the last quarter. Millennium Management LLC grew its stake in shares of Fomento Económico Mexicano by 577.6% in the second quarter. Millennium Management LLC now owns 222,464 shares of the company's stock valued at $23,948,000 after buying an additional 189,632 shares in the last quarter. Finally, Employees Retirement System of Texas grew its stake in shares of Fomento Económico Mexicano by 64.1% in the second quarter. Employees Retirement System of Texas now owns 471,096 shares of the company's stock valued at $50,713,000 after buying an additional 184,000 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.