Fomento Economico Mexicano SAB (NYSE:FMX) dropped 1.4% during mid-day trading on Tuesday . The stock traded as low as $93.59 and last traded at $94.45, with a volume of 400,260 shares trading hands. The stock had previously closed at $95.79.

A number of research firms have weighed in on FMX. Zacks Investment Research upgraded Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Citigroup Inc. upgraded Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating and lifted their price target for the company from $102.00 to $110.00 in a research report on Friday, April 29th. Finally, Barclays PLC restated a “buy” rating and issued a $110.00 target price on shares of Fomento Economico Mexicano SAB in a research report on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $110.67.

The stock has a market cap of $33.50 billion and a P/E ratio of 35.47. The firm has a 50 day moving average of $91.43 and a 200 day moving average of $91.55.

A number of hedge funds have recently added to or reduced their stakes in FMX. WBI Investments Inc. bought a new stake in shares of Fomento Economico Mexicano SAB during the fourth quarter valued at $4,498,000. Thornburg Investment Management Inc. boosted its position in Fomento Economico Mexicano SAB by 31.7% in the fourth quarter. Thornburg Investment Management Inc. now owns 415,955 shares of the company’s stock valued at $38,414,000 after buying an additional 100,207 shares during the period. Sei Investments Co. acquired a new position in Fomento Economico Mexicano SAB during the fourth quarter valued at about $1,442,000. BlackRock Advisors LLC boosted its position in Fomento Economico Mexicano SAB by 31.9% in the fourth quarter. BlackRock Advisors LLC now owns 429,196 shares of the company’s stock valued at $39,636,000 after buying an additional 103,687 shares during the period. Finally, US Bancorp DE boosted its position in Fomento Economico Mexicano SAB by 8.8% in the fourth quarter. US Bancorp DE now owns 11,995 shares of the company’s stock valued at $1,108,000 after buying an additional 968 shares during the period.

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.

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