Zacks Investment Research upgraded shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $111.00 price target on the stock.

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.”

A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of 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. Morgan Stanley initiated coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research note on Thursday. They set an overweight rating and a $120.00 price target on the stock. Citigroup Inc. lowered shares of 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. Finally, Gabelli initiated coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research note on Monday, July 17th. They set a buy rating and a $112.00 price target on the stock. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $108.75.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (FMX) opened at 97.46 on Thursday. The stock has a market cap of $34.87 billion, a PE ratio of 29.09 and a beta of 0.58. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $73.45 and a one year high of $103.82. The company has a 50-day moving average of $99.83 and a 200 day moving average of $94.75.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share (EPS) 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 company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.49 billion. On average, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post $3.48 earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of FMX. BlackRock Inc. purchased a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. in the 1st quarter valued at $118,653,000. Schroder Investment Management Group boosted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. by 302.3% in the 1st quarter. Schroder Investment Management Group now owns 1,402,999 shares of the company’s stock valued at $127,013,000 after acquiring an additional 1,054,253 shares during the last quarter. Capital World Investors purchased a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. in the 2nd quarter valued at $47,255,000. Commonwealth Bank of Australia boosted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. by 79.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 947,776 shares of the company’s stock valued at $93,202,000 after acquiring an additional 420,114 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. by 55.1% in the 2nd quarter. William Blair Investment Management LLC now owns 1,087,301 shares of the company’s stock valued at $106,925,000 after acquiring an additional 386,233 shares during the last quarter. Institutional investors and hedge funds 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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