Fomento Económico Mexicano (NYSE:FMX) Upgraded at StockNews.com

Fomento Económico Mexicano (NYSE:FMX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other research firms have also issued reports on FMX. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Barclays cut their price target on 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $128.00.

Fomento Económico Mexicano Trading Down 1.4 %

NYSE:FMX opened at $96.24 on Wednesday. The firm has a market cap of $34.43 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 5.47 and a beta of 0.94. The stock has a fifty day moving average price of $99.77 and a 200 day moving average price of $108.24. Fomento Económico Mexicano has a 12-month low of $94.86 and a 12-month high of $143.43. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its position in Fomento Económico Mexicano by 19.4% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock valued at $123,169,000 after acquiring an additional 153,771 shares during the period. Black Creek Investment Management Inc. increased its position in Fomento Económico Mexicano by 15.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after acquiring an additional 121,800 shares during the period. LA Financiere DE L Echiquier increased its position in Fomento Económico Mexicano by 22.1% in the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after acquiring an additional 140,309 shares during the period. Finally, Perpetual Ltd increased its position in Fomento Económico Mexicano by 9.4% in the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the period.

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.