Analysts Set Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Price Target at $126.33

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) has received an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $126.33.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Barclays reduced their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently modified their holdings of FMX. Banque Cantonale Vaudoise bought a new stake in Fomento Económico Mexicano in the 3rd quarter valued at about $55,000. Van ECK Associates Corp raised its holdings in shares of Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Fomento Económico Mexicano by 9.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock worth $245,000 after buying an additional 204 shares during the period. MQS Management LLC bought a new position in Fomento Económico Mexicano in the 3rd quarter worth approximately $369,000. Finally, Wealth Alliance increased its position in Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after acquiring an additional 147 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $83.93 on Monday. Fomento Económico Mexicano has a 52 week low of $81.07 and a 52 week high of $143.43. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $30.03 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 5.19 and a beta of 0.90. The stock has a 50 day moving average of $89.24 and a 200-day moving average of $99.74.

Fomento Económico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.