Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Given Average Recommendation of “Hold” by Brokerages

Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) have received a consensus rating of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $126.33.

Several analysts have issued reports on the company. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays cut their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th.

Fomento Económico Mexicano Stock Down 1.8 %

Shares of Fomento Económico Mexicano stock opened at $82.36 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $143.43. The firm has a market capitalization of $29.47 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 5.19 and a beta of 0.90. The stock’s fifty day moving average is $88.69 and its 200-day moving average is $99.44.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FMX. Oldfield Partners LLP grew its position in Fomento Económico Mexicano by 0.8% during the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock worth $1,432,000 after buying an additional 100 shares in the last quarter. Wealth Alliance lifted its position in shares of Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock worth $378,000 after acquiring an additional 147 shares during the period. Stifel Financial Corp lifted its position in shares of Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after acquiring an additional 149 shares during the period. Cerity Partners LLC grew its holdings in shares of Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after purchasing an additional 191 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Fomento Económico Mexicano by 9.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after purchasing an additional 204 shares during the period. 61.00% of the stock is owned by institutional investors.

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.