Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Given Average Rating of “Hold” by Analysts

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) have been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $101.6333.

Several equities analysts have issued reports on the company. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price objective for the company from $115.00 to $111.00 in a research report on Friday, September 19th. JPMorgan Chase & Co. lifted their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its holdings in Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after purchasing an additional 1,296,194 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Fomento Economico Mexicano by 11,692.3% during the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after buying an additional 709,957 shares during the period. Victory Capital Management Inc. raised its stake in shares of Fomento Economico Mexicano by 12,960.1% during the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock worth $59,176,000 after buying an additional 595,388 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Fomento Economico Mexicano in the third quarter valued at approximately $50,343,000. Finally, Invesco Ltd. boosted its stake in Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after acquiring an additional 423,073 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Trading Down 1.6%

Shares of FMX stock opened at $100.89 on Wednesday. The company has a market capitalization of $36.67 billion, a P/E ratio of 40.68, a P/E/G ratio of 3.99 and a beta of 0.46. Fomento Economico Mexicano has a 12-month low of $81.93 and a 12-month high of $108.74. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $98.39 and a 200 day moving average price of $95.54.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.18). The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. Research analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

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.