Morgan Stanley began coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in a research report report published on Thursday. The firm issued an overweight rating and a $120.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on FMX. Citigroup Inc. cut shares of Fomento Economico Mexicano S.A.B. de C.V. from a buy rating to a neutral rating in a research report on Tuesday, June 13th. BidaskClub raised shares of 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. Zacks Investment Research raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a hold rating to a buy rating and set a $112.00 price target for the company in a research report on Friday, July 14th. Finally, Gabelli initiated coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They issued a buy rating and a $112.00 price target for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $108.75.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) opened at 97.46 on Thursday. The company has a 50-day moving average price of $99.83 and a 200-day moving average price of $94.75. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $73.45 and a 52 week high of $103.82. The stock 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. (NYSE:FMX) last announced its quarterly earnings results 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 net margin of 5.26% and a return on equity of 8.42%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post $3.48 EPS for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc. lifted its position in Fomento Economico Mexicano S.A.B. de C.V. by 4.2% in the first quarter. TD Asset Management Inc. now owns 28,976 shares of the company’s stock valued at $2,565,000 after acquiring an additional 1,179 shares during the last quarter. Legal & General Group Plc lifted its position in Fomento Economico Mexicano S.A.B. de C.V. by 282.2% in the first quarter. Legal & General Group Plc now owns 10,564 shares of the company’s stock valued at $936,000 after acquiring an additional 7,800 shares during the last quarter. FIL Ltd lifted its position in Fomento Economico Mexicano S.A.B. de C.V. by 15.2% in the first quarter. FIL Ltd now owns 2,346,144 shares of the company’s stock valued at $207,680,000 after acquiring an additional 309,600 shares during the last quarter. APG Asset Management N.V. lifted its position in Fomento Economico Mexicano S.A.B. de C.V. by 14.1% in the second quarter. APG Asset Management N.V. now owns 313,930 shares of the company’s stock valued at $30,872,000 after acquiring an additional 38,900 shares during the last quarter. Finally, Ronald Blue & Co. LLC purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. in the first quarter valued at $351,000. 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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