Zacks Investment Research downgraded shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “FEMSA outperformed the broader industry in the year so far. The company is on track to drive growth through strategic measures, including increasing store count, diversifying business portfolio and focusing on core business activities. Further, its exposure in various industries including beverage, beer and retail, gives it an edge over competitors. Also, FEMSA's strong cash flow generation capacity enables it to make incremental investments in business expansion. However, second-quarter 2017 results marked its fourth consecutive earnings miss, while sales lagged estimates for the second straight time. Moreover, the company continued to witness margin pressures due to decline in margins at Coca-Cola FEMSA and lower-margin businesses growth at FEMSA Comercio, as well as higher operating expenses at Coca-Cola FEMSA and FEMSA Comercio’s Health division. Nevertheless, FEMSA's focus on achieving growth via acquisitions bode well.”

FMX has been the topic of a number of other reports. BidaskClub downgraded Fomento Economico Mexicano S.A.B. de C.V. from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Gabelli initiated coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research note on Monday, July 17th. They issued a buy rating and a $112.00 price target on the stock. Barclays PLC decreased their price target on Fomento Economico Mexicano S.A.B. de C.V. from $106.00 to $92.00 and set an overweight rating on the stock in a research note on Monday, May 1st. Finally, Citigroup Inc. downgraded Fomento Economico Mexicano S.A.B. de C.V. from a buy rating to a neutral rating in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $105.67.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) opened at 100.42 on Tuesday. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $73.45 and a 1-year high of $103.82. The firm’s 50-day moving average is $100.66 and its 200-day moving average is $92.90. The company has a market cap of $35.93 billion, a PE ratio of 29.98 and a beta of 0.57.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.11. Fomento Economico Mexicano S.A.B. de C.V. had a net margin of 5.26% and a return on equity of 8.42%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.49 billion. On average, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post $3.47 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc. boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 4.2% in the first quarter. TD Asset Management Inc. now owns 28,976 shares of the company’s stock valued at $2,565,000 after buying an additional 1,179 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 282.2% in the first quarter. Legal & General Group Plc now owns 10,564 shares of the company’s stock valued at $936,000 after buying an additional 7,800 shares in the last quarter. FIL Ltd boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 15.2% in the first quarter. FIL Ltd now owns 2,346,144 shares of the company’s stock valued at $207,680,000 after buying an additional 309,600 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 14.1% in the second quarter. APG Asset Management N.V. now owns 313,930 shares of the company’s stock valued at $30,872,000 after buying an additional 38,900 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 29.0% in the first quarter. Parametric Portfolio Associates LLC now owns 393,243 shares of the company’s stock valued at $34,810,000 after buying an additional 88,311 shares in the last quarter. Hedge funds and other institutional investors own 21.58% of the company’s stock.

About Fomento Economico Mexicano S.A.B. de C.V.

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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