J P Morgan Chase & Co upgraded shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) from a neutral rating to an overweight rating in a report issued on Monday, MarketBeat.com reports. They currently have $117.00 price target on the stock, up from their prior price target of $98.00.

Other analysts have also recently issued research reports about the stock. Citigroup Inc. cut shares of Fomento Economico Mexicano S.A.B. de C.V. from a buy rating to a neutral rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Fomento Economico Mexicano S.A.B. de C.V. from a hold rating to a buy rating and set a $113.00 target price on the stock in a research report on Thursday, August 24th. Finally, BidaskClub upgraded shares of Fomento Economico Mexicano S.A.B. de C.V. from a buy rating to a strong-buy rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $110.00.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) opened at 96.05 on Monday. The firm has a market capitalization of $34.37 billion, a P/E ratio of 28.33 and a beta of 0.55. The stock has a 50 day moving average of $98.63 and a 200-day moving average of $95.92. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $73.45 and a 52-week high of $103.82.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.11). The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a net margin of 5.26% and a return on equity of 8.42%. Equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.45 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in FMX. BlackRock Inc. bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. in the 1st quarter worth $118,653,000. Capital World Investors bought a new stake in Fomento Economico Mexicano S.A.B. de C.V. in the 2nd quarter worth $47,255,000. Commonwealth Bank of Australia grew its holdings in 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 worth $93,202,000 after acquiring an additional 420,114 shares during the last quarter. William Blair Investment Management LLC grew its holdings in 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 worth $106,925,000 after acquiring an additional 386,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Fomento Economico Mexicano S.A.B. de C.V. by 456.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 354,545 shares of the company’s stock worth $34,866,000 after acquiring an additional 290,845 shares during the last quarter. 21.62% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano S.A.B. de C.V. 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 S.A.B. de C.V. (NYSE:FMX)

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