Fomento Economico Mexicano SAB (FMX) Lowered to “Neutral” at Credit Suisse Group

Fomento Economico Mexicano SAB (NYSE:FMX) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Thursday, September 14th. J P Morgan Chase & Co raised shares of Fomento Economico Mexicano SAB from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $98.00 to $117.00 in a report on Monday, October 2nd. Morgan Stanley initiated coverage on shares of Fomento Economico Mexicano SAB in a report on Thursday, September 14th. They set an “overweight” rating and a $120.00 target price on the stock. Finally, ValuEngine raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $114.40.

Fomento Economico Mexicano SAB (FMX) traded down $1.24 on Wednesday, reaching $92.36. 105,801 shares of the company traded hands, compared to its average volume of 425,779. The firm has a market capitalization of $34,207.84, a PE ratio of 13.45, a PEG ratio of 0.88 and a beta of 0.54. The company has a quick ratio of 1.55, a current ratio of 1.88 and a debt-to-equity ratio of 0.36. Fomento Economico Mexicano SAB has a 1 year low of $73.45 and a 1 year high of $103.82.

Large investors have recently modified their holdings of the business. ClariVest Asset Management LLC raised its holdings in shares of Fomento Economico Mexicano SAB by 5.1% during the third quarter. ClariVest Asset Management LLC now owns 57,993 shares of the company’s stock worth $5,540,000 after purchasing an additional 2,800 shares during the period. Harding Loevner LP increased its holdings in shares of Fomento Economico Mexicano SAB by 27.6% in the 2nd quarter. Harding Loevner LP now owns 999,846 shares of the company’s stock worth $98,325,000 after acquiring an additional 216,540 shares during the period. Gluskin Sheff & Assoc Inc. increased its holdings in shares of Fomento Economico Mexicano SAB by 2.9% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 88,580 shares of the company’s stock worth $8,462,000 after acquiring an additional 2,480 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Fomento Economico Mexicano SAB in the 2nd quarter worth about $7,306,000. Finally, Vanguard Group Inc. increased its holdings in shares of Fomento Economico Mexicano SAB by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 156,624 shares of the company’s stock worth $13,864,000 after acquiring an additional 18,433 shares during the period. 21.23% of the stock is currently owned by institutional investors.

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Fomento Economico Mexicano SAB Company Profile

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.