Shares of Fomento Economico Mexicano SAB (NYSE:FMX) dropped 1% on Tuesday . The stock traded as low as $96.78 and last traded at $97.08, with a volume of 206,625 shares changing hands. The stock had previously closed at $98.04.

FMX has been the topic of a number of research reports. Citigroup Inc. raised 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 report on Friday, April 29th. Zacks Investment Research cut Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. HSBC raised Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Finally, Barclays PLC reissued a “buy” rating and set a $110.00 price objective on shares of Fomento Economico Mexicano SAB in a report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Fomento Economico Mexicano SAB presently has a consensus rating of “Buy” and a consensus price target of $107.75.

The company has a 50-day moving average price of $93.19 and a 200 day moving average price of $92.26. The company has a market cap of $34.19 billion and a price-to-earnings ratio of 33.53.

Fomento Economico Mexicano SAB (NYSE:FMX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (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 $3.11 earnings per share for the current fiscal year.

Other hedge funds recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in 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 valued at $1,216,000 after buying an additional 656 shares in the last quarter. US Bancorp DE raised 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 worth $1,108,000 after buying an additional 968 shares during the period. Finally, BlackRock Advisors LLC raised 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 worth $39,636,000 after buying an additional 103,687 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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