Fomento Economico Mexicano SAB (NYSE:FMX) shares gapped up prior to trading on Monday . The stock had previously closed at $89.26, but opened at $89.39. Fomento Economico Mexicano SAB shares last traded at $91.44, with a volume of 160,641 shares traded.

Several brokerages recently issued reports on FMX. Barclays PLC reiterated a “buy” rating and issued a $110.00 price target on shares of Fomento Economico Mexicano SAB in a research note on Tuesday, July 19th. Zacks Investment Research upgraded shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. upgraded shares of Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating and raised their price objective for the company from $102.00 to $110.00 in a research note on Friday, April 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $107.75.

The stock has a market capitalization of $32.73 billion and a price-to-earnings ratio of 33.26. The firm’s 50 day moving average price is $90.93 and its 200-day moving average price is $91.76.

Fomento Economico Mexicano SAB (NYSE:FMX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.12. Equities research analysts predict that Fomento Economico Mexicano SAB will post $3.05 earnings per share for the current year.

Several hedge funds recently modified their holdings of FMX. BlackRock Advisors LLC raised its stake in shares of Fomento Economico Mexicano SAB by 31.9% in the fourth quarter. BlackRock Advisors LLC now owns 429,196 shares of the company’s stock worth $39,636,000 after buying an additional 103,687 shares in the last quarter. WBI Investments Inc. bought a new stake in shares of Fomento Economico Mexicano SAB during the fourth quarter worth about $4,498,000. US Bancorp DE raised its stake in shares of Fomento Economico Mexicano SAB by 8.8% in the fourth quarter. US Bancorp DE now owns 11,995 shares of the company’s stock worth $1,108,000 after buying an additional 968 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Fomento Economico Mexicano SAB by 5.2% in the fourth quarter. Advisors Asset Management Inc. now owns 13,166 shares of the company’s stock worth $1,216,000 after buying an additional 656 shares in the last quarter.

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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