Fomento Económico Mexicano (NYSE:FMX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Fomento Económico Mexicano (NYSE:FMX – Get Rating) in a report released on Thursday. The brokerage issued a buy rating on the stock.

FMX has been the subject of several other research reports. Barclays cut shares of Fomento Económico Mexicano from an overweight rating to an equal weight rating and set a $100.00 target price for the company. in a research note on Friday, March 3rd. The Goldman Sachs Group raised their target price on shares of Fomento Económico Mexicano from $95.60 to $109.20 and gave the stock a buy rating in a research note on Wednesday, November 16th. HSBC raised their target price on shares of Fomento Económico Mexicano from $58.00 to $77.00 and gave the stock a reduce rating in a research note on Friday, February 17th. Scotiabank upgraded shares of Fomento Económico Mexicano from a sector perform rating to an outperform rating in a research note on Thursday, February 16th. Finally, Citigroup assumed coverage on shares of Fomento Económico Mexicano in a research note on Friday, March 3rd. They issued a buy rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $93.24.

Fomento Económico Mexicano Trading Down 1.6 %

FMX stock opened at $87.23 on Thursday. Fomento Económico Mexicano has a one year low of $58.73 and a one year high of $95.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.40. The company has a fifty day moving average of $87.56 and a 200-day moving average of $77.22.

Hedge Funds Weigh In On Fomento Económico Mexicano

Hedge funds have recently added to or reduced their stakes in the business. Yousif Capital Management LLC increased its holdings in Fomento Económico Mexicano by 8.7% during the 3rd quarter. Yousif Capital Management LLC now owns 3,612 shares of the company’s stock valued at $227,000 after acquiring an additional 290 shares in the last quarter. Indus Capital Partners LLC purchased a new position in Fomento Económico Mexicano during the 2nd quarter valued at about $1,515,000. One Wealth Advisors LLC increased its holdings in Fomento Económico Mexicano by 70.6% during the 2nd quarter. One Wealth Advisors LLC now owns 6,336 shares of the company’s stock valued at $428,000 after acquiring an additional 2,621 shares in the last quarter. Sustainable Growth Advisers LP increased its holdings in Fomento Económico Mexicano by 1.0% during the 3rd quarter. Sustainable Growth Advisers LP now owns 73,364 shares of the company’s stock valued at $4,604,000 after acquiring an additional 724 shares in the last quarter. Finally, Comgest Global Investors S.A.S. increased its holdings in Fomento Económico Mexicano by 10.4% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 2,202,050 shares of the company’s stock valued at $138,179,000 after acquiring an additional 207,025 shares in the last quarter. 21.07% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Company Profile

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Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.