Fomento Economico Mexicano SAB (FMX) Stock Price Down 1%
Fomento Economico Mexicano SAB (NYSE:FMX) shares fell 1% on Tuesday . The stock traded as low as $96.78 and last traded at $97.08, with a volume of 206,625 shares trading hands. The stock had previously closed at $98.04.
Several brokerages have weighed in on FMX. Zacks Investment Research upgraded Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Citigroup Inc. upgraded Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating and boosted their price target for the company from $102.00 to $110.00 in a report on Friday, April 29th. Barclays PLC reiterated a “buy” rating and issued a $110.00 price target on shares of Fomento Economico Mexicano SAB in a report on Tuesday, July 19th. Finally, HSBC upgraded Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fomento Economico Mexicano SAB currently has an average rating of “Buy” and a consensus price target of $107.75.
The stock has a market capitalization of $34.26 billion and a price-to-earnings ratio of 33.71. The company has a 50 day moving average price of $93.01 and a 200-day moving average price of $92.23.
Fomento Economico Mexicano SAB (NYSE:FMX) last issued its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by $0.12. Analysts predict that Fomento Economico Mexicano SAB will post $3.11 earnings per share for the current year.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. BlackRock Advisors LLC increased 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 in the last quarter. US Bancorp DE increased 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 in the last quarter. Finally, Advisors Asset Management Inc. increased its position 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 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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