Zacks Investment Research upgraded shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $111.00 price objective on the stock.

According to Zacks, “FEMSA outperformed the broader industry in the year so far. The company is on track to drive growth through strategic measures, including increasing store count, diversifying business portfolio and focusing on core business activities. Further, its exposure in various industries including beverage, beer and retail, gives it an edge over competitors. Also, FEMSA's strong cash flow generation capacity enables it to make incremental investments in business expansion. However, second-quarter 2017 results marked its fourth consecutive earnings miss, while sales lagged estimates for the second straight time. Moreover, the company continued to witness margin pressures due to decline in margins at Coca-Cola FEMSA and lower-margin businesses growth at FEMSA Comercio, as well as higher operating expenses at Coca-Cola FEMSA and FEMSA Comercio’s Health division. Nevertheless, FEMSA's focus on achieving growth via acquisitions bode well.”

Several other research firms have also recently commented on FMX. Citigroup Inc. cut Fomento Economico Mexicano S.A.B. de C.V. from a buy rating to a neutral rating in a report on Tuesday, June 13th. BidaskClub raised Fomento Economico Mexicano S.A.B. de C.V. from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Gabelli began coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They set a buy rating and a $112.00 price target for the company. Finally, Morgan Stanley began coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Thursday. They set an overweight rating and a $120.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $108.75.

Fomento Economico Mexicano S.A.B. de C.V. (FMX) traded down 1.94% during midday trading on Thursday, hitting $97.46. The company had a trading volume of 361,822 shares. The company has a market cap of $34.87 billion, a price-to-earnings ratio of 29.09 and a beta of 0.58. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $73.45 and a 12 month high of $103.82. The firm has a 50-day moving average price of $99.94 and a 200-day moving average price of $94.65.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.49 billion. Equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post $3.47 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Permit Capital LLC increased its holdings in Fomento Economico Mexicano S.A.B. de C.V. by 12.8% in the second quarter. Permit Capital LLC now owns 1,100 shares of the company’s stock valued at $109,000 after buying an additional 125 shares during the last quarter. Intrust Bank NA acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth approximately $200,000. OxFORD Asset Management LLP acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth approximately $201,000. Laurel Wealth Advisors Inc. acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth approximately $202,000. Finally, Quantum Capital Management acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth approximately $206,000. 21.58% of the stock is owned by hedge funds and other institutional investors.

About Fomento Economico Mexicano S.A.B. de C.V.

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.

Analyst Recommendations for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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