Fomento Economico Mexicano SAB (FMX) Given Consensus Recommendation of “Buy” by Brokerages

Fomento Economico Mexicano SAB (NYSE:FMX) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $115.75.

Several analysts have commented on FMX shares. Credit Suisse Group cut shares of Fomento Economico Mexicano SAB from an “outperform” rating to a “neutral” rating in a research note on Wednesday, December 20th. Barclays decreased their price objective on shares of Fomento Economico Mexicano SAB from $115.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, ValuEngine upgraded shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. ClariVest Asset Management LLC lifted its stake in shares of Fomento Economico Mexicano SAB by 5.1% in the 3rd quarter. ClariVest Asset Management LLC now owns 57,993 shares of the company’s stock valued at $5,540,000 after purchasing an additional 2,800 shares during the period. Gluskin Sheff & Assoc Inc. lifted its stake in shares of Fomento Economico Mexicano SAB by 2.9% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 88,580 shares of the company’s stock valued at $8,462,000 after purchasing an additional 2,480 shares during the period. Harding Loevner LP lifted its stake in shares of Fomento Economico Mexicano SAB by 0.9% in the 3rd quarter. Harding Loevner LP now owns 1,008,431 shares of the company’s stock valued at $96,335,000 after purchasing an additional 8,585 shares during the period. Bamco Inc. NY lifted its stake in shares of Fomento Economico Mexicano SAB by 11.6% in the 3rd quarter. Bamco Inc. NY now owns 442,932 shares of the company’s stock valued at $42,313,000 after purchasing an additional 45,938 shares during the period. Finally, Atlantic Trust Group LLC acquired a new position in shares of Fomento Economico Mexicano SAB in the 3rd quarter valued at $2,689,000. Hedge funds and other institutional investors own 21.15% of the company’s stock.

Shares of Fomento Economico Mexicano SAB (NYSE:FMX) traded up $0.62 during midday trading on Friday, reaching $97.40. 227,015 shares of the company’s stock traded hands, compared to its average volume of 406,243. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 1.88. Fomento Economico Mexicano SAB has a twelve month low of $74.30 and a twelve month high of $103.82. The firm has a market cap of $34,640.80, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.54.

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Fomento Economico Mexicano SAB Company Profile

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 SAB (NYSE:FMX)

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