Stifel Nicolaus began coverage on shares of Fomento Economico Mexicano SAB (NYSE:FMX) in a research note released on Tuesday. The firm issued a buy rating on the stock.

A number of other equities research analysts also recently weighed in on FMX. Zacks Investment Research downgraded Fomento Economico Mexicano SAB from a hold rating to a sell rating in a report on Thursday, October 13th. HSBC raised Fomento Economico Mexicano SAB from a hold rating to a buy rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fomento Economico Mexicano SAB presently has a consensus rating of Buy and an average target price of $106.33.

Shares of Fomento Economico Mexicano SAB (NYSE:FMX) traded up 0.30% during trading on Tuesday, hitting $79.63. The stock had a trading volume of 45,806 shares. The stock’s 50 day moving average is $91.36 and its 200 day moving average is $91.57. The stock has a market capitalization of $28.49 billion, a price-to-earnings ratio of 28.64 and a beta of 0.77. Fomento Economico Mexicano SAB has a 52 week low of $77.37 and a 52 week high of $101.01.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Seven Eight Capital LLC increased its position in shares of Fomento Economico Mexicano SAB by 133.3% in the first quarter. Seven Eight Capital LLC now owns 2,100 shares of the company’s stock valued at $202,000 after buying an additional 1,200 shares during the last quarter. Rhumbline Advisers increased its position in shares of Fomento Economico Mexicano SAB by 0.6% in the second quarter. Rhumbline Advisers now owns 2,332 shares of the company’s stock valued at $216,000 after buying an additional 13 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Fomento Economico Mexicano SAB by 14.6% in the second quarter. Daiwa Securities Group Inc. now owns 2,350 shares of the company’s stock valued at $217,000 after buying an additional 300 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Fomento Economico Mexicano SAB during the second quarter valued at approximately $231,000. Finally, BTC Capital Management Inc. increased its position in shares of Fomento Economico Mexicano SAB by 9.9% in the second quarter. BTC Capital Management Inc. now owns 2,661 shares of the company’s stock valued at $246,000 after buying an additional 239 shares during the last quarter. 21.72% of the stock is currently owned by institutional investors and hedge funds.

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About Fomento Economico Mexicano SAB

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.

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