Fomento Economico Mexicano (NYSE:FMX) Rating Lowered to “Hold” at Wall Street Zen

Fomento Economico Mexicano (NYSE:FMX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms have also recently commented on FMX. JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Barclays upped their price target on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group increased their price objective on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.50.

Fomento Economico Mexicano Stock Performance

Shares of FMX opened at $129.07 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The stock has a market cap of $44.60 billion, a P/E ratio of 28.88, a P/E/G ratio of 0.70 and a beta of 0.41. The business’s 50 day moving average price is $125.19 and its 200-day moving average price is $115.13. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $134.52.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. Equities research analysts anticipate that Fomento Economico Mexicano will post 6.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in shares of Fomento Economico Mexicano during the first quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its position in Fomento Economico Mexicano by 2,006.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the period. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano during the 4th quarter valued at about $50,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after acquiring an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.