Fomento Económico Mexicano (NYSE:FMX – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.
A number of other equities analysts have also recently commented on FMX. Barclays dropped their price target on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $104.00 to $109.00 in a research note on Monday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $133.40.
View Our Latest Report on Fomento Económico Mexicano
Fomento Económico Mexicano Stock Performance
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The firm had revenue of $11.54 billion during the quarter. On average, analysts expect that Fomento Económico Mexicano will post 5.44 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Fomento Económico Mexicano
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMX. Dimensional Fund Advisors LP lifted its holdings in Fomento Económico Mexicano by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company’s stock valued at $32,640,000 after buying an additional 5,796 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Fomento Económico Mexicano by 22.0% during the 4th quarter. Corient Private Wealth LLC now owns 4,410 shares of the company’s stock valued at $575,000 after buying an additional 796 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Fomento Económico Mexicano by 275.7% in the 4th quarter. Hsbc Holdings PLC now owns 12,290 shares of the company’s stock valued at $1,602,000 after purchasing an additional 19,285 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Fomento Económico Mexicano by 22.1% in the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after purchasing an additional 134 shares in the last quarter. Finally, Axiom Investors LLC DE raised its holdings in shares of Fomento Económico Mexicano by 2.6% in the 4th quarter. Axiom Investors LLC DE now owns 689,860 shares of the company’s stock valued at $89,923,000 after purchasing an additional 17,659 shares in the last quarter.
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.
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