Fomento Economico Mexicano (NYSE:FMX) Lowered to Hold Rating by Zacks Research

Fomento Economico Mexicano (NYSE:FMX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their target price for the company from $125.00 to $150.00 in a research report on Tuesday. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upped their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Barclays raised their target price on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Fomento Economico Mexicano has an average rating of “Hold” and a consensus price target of $127.12.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $124.28 on Tuesday. Fomento Economico Mexicano has a 12-month low of $83.08 and a 12-month high of $141.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market capitalization of $42.95 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 0.69 and a beta of 0.40. The business has a 50 day simple moving average of $126.55 and a 200 day simple moving average of $117.56.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%. On average, equities research analysts anticipate that Fomento Economico Mexicano will post 6.09 EPS for the current year.

Institutional Investors Weigh In On Fomento Economico Mexicano

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after purchasing an additional 709,957 shares during the last quarter. Invesco Ltd. increased its holdings in Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after buying an additional 423,073 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Fomento Economico Mexicano in the fourth quarter worth approximately $41,408,000. Goldman Sachs Group Inc. increased its stake in shares of Fomento Economico Mexicano by 253.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 567,718 shares of the company’s stock worth $57,379,000 after purchasing an additional 407,140 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Fomento Economico Mexicano by 3.2% during the 1st quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after purchasing an additional 193,432 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.