Fomento Economico Mexicano SAB (FMX) Stock Rating Upgraded by ValuEngine

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Fomento Economico Mexicano SAB (NYSE:FMX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Fomento Economico Mexicano SAB in a research note on Monday, August 6th. They issued an “overweight” rating on the stock. UBS Group upgraded shares of Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a research note on Monday, October 1st. Zacks Investment Research upgraded shares of Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Finally, Gabelli reiterated a “buy” rating on shares of Fomento Economico Mexicano SAB in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy”.

FMX traded up $2.79 during midday trading on Wednesday, reaching $93.04. The company had a trading volume of 344,000 shares, compared to its average volume of 440,526. The company has a quick ratio of 1.34, a current ratio of 1.63 and a debt-to-equity ratio of 0.36. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.49 and a beta of 0.73. Fomento Economico Mexicano SAB has a 12-month low of $80.86 and a 12-month high of $101.12.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Asset Management Inc. bought a new stake in shares of Fomento Economico Mexicano SAB in the second quarter valued at approximately $641,690,000. Fiera Capital Corp raised its position in shares of Fomento Economico Mexicano SAB by 373.0% in the second quarter. Fiera Capital Corp now owns 873,286 shares of the company’s stock valued at $76,666,000 after purchasing an additional 688,668 shares during the period. Janus Henderson Group PLC raised its position in shares of Fomento Economico Mexicano SAB by 28.4% in the second quarter. Janus Henderson Group PLC now owns 1,714,950 shares of the company’s stock valued at $150,564,000 after purchasing an additional 379,500 shares during the period. Coronation Fund Managers Ltd. raised its position in shares of Fomento Economico Mexicano SAB by 57.5% in the second quarter. Coronation Fund Managers Ltd. now owns 904,357 shares of the company’s stock valued at $79,393,000 after purchasing an additional 330,042 shares during the period. Finally, Sarasin & Partners LLP raised its position in shares of Fomento Economico Mexicano SAB by 742.8% in the second quarter. Sarasin & Partners LLP now owns 356,923 shares of the company’s stock valued at $31,334,000 after purchasing an additional 314,574 shares during the period. Hedge funds and other institutional investors own 19.85% of the company’s stock.

About Fomento Economico Mexicano SAB

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. The company produces, markets, distributes, and sells Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; and waters and still beverages comprising juice, coffee, tea, milk, value-added dairy, sports, energy, and plant-based drinks.

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