Fomento Economico Mexicano SAB (NYSE:FMX) gapped down prior to trading on Wednesday . The stock had previously closed at $93.62, but opened at $93.75. Fomento Economico Mexicano SAB shares last traded at $94.43, with a volume of 214,971 shares.

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

The company has a 50-day moving average of $91.14 and a 200 day moving average of $91.82. The stock has a market capitalization of $33.77 billion and a PE ratio of 34.44.

Fomento Economico Mexicano SAB (NYSE:FMX) last released its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.12. Equities analysts predict that Fomento Economico Mexicano SAB will post $3.02 EPS for the current year.

Several large investors recently made changes to their positions in the company. Advisors Asset Management Inc. boosted 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. US Bancorp DE boosted 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. WBI Investments Inc. bought a new stake in shares of Fomento Economico Mexicano SAB during the fourth quarter worth about $4,498,000. Finally, BlackRock Advisors LLC boosted 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.

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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