Morgan Stanley began coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in a report issued on Thursday. The firm set an “overweight” rating and a $120.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 20.75% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a report on Wednesday, September 6th. BidaskClub upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Finally, Gabelli initiated coverage on Fomento Economico Mexicano S.A.B. de C.V. in a report on Monday, July 17th. They set a “buy” rating and a $112.00 price target on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $108.25.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) opened at 99.38 on Thursday. The company’s 50-day moving average price is $100.01 and its 200 day moving average price is $94.58. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $73.45 and a 52-week high of $103.82. The stock has a market capitalization of $35.56 billion, a P/E ratio of 29.67 and a beta of 0.58.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last issued its earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.11). The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. On average, equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post $3.47 earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the business. Comgest Global Investors S.A.S. lifted its holdings in Fomento Economico Mexicano S.A.B. de C.V. by 4.9% during the 1st quarter. Comgest Global Investors S.A.S. now owns 2,946,851 shares of the company’s stock worth $260,855,000 after buying an additional 138,800 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 1.8% in the 1st quarter. OppenheimerFunds Inc. now owns 2,733,896 shares of the company’s stock valued at $242,005,000 after purchasing an additional 48,486 shares during the period. FIL Ltd lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 0.7% in the 2nd quarter. FIL Ltd now owns 2,363,219 shares of the company’s stock valued at $232,399,000 after purchasing an additional 17,075 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 5.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,481,355 shares of the company’s stock valued at $145,676,000 after purchasing an additional 81,309 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 5.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,474,603 shares of the company’s stock valued at $142,829,000 after purchasing an additional 71,604 shares during the period. 21.58% of the stock is currently owned by hedge funds and other institutional investors.

About Fomento Economico Mexicano S.A.B. de C.V.

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

Analyst Recommendations for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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