Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) had its price target dropped by equities research analysts at Barclays PLC from $115.00 to $114.00 in a research report issued on Wednesday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s price target indicates a potential upside of 20.87% from the company’s previous close.

FMX has been the subject of several other reports. Morgan Stanley initiated coverage on Fomento Economico Mexicano S.A.B. de C.V. in a report on Thursday, September 14th. They set an “overweight” rating and a $120.00 target price for the company. Zacks Investment Research upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Wednesday, September 6th. BidaskClub upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Gabelli began coverage on Fomento Economico Mexicano S.A.B. de C.V. in a report on Monday, July 17th. They issued a “buy” rating and a $112.00 price objective for the company. Finally, J P Morgan Chase & Co upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $98.00 to $117.00 in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Fomento Economico Mexicano S.A.B. de C.V. presently has an average rating of “Buy” and a consensus price target of $114.40.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) traded down 0.06% during trading on Wednesday, reaching $94.26. 313,409 shares of the company were exchanged. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 27.81 and a beta of 0.55. 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 price of $98.08 and a 200-day moving average price of $96.12.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last issued its earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing the 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 predict that Fomento Economico Mexicano S.A.B. de C.V. will post $3.45 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Fomento Economico Mexicano S.A.B. de C.V. by 282.2% during the 1st 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. Harding Loevner LP increased its position in Fomento Economico Mexicano S.A.B. de C.V. by 27.6% during the 2nd quarter. Harding Loevner LP now owns 999,846 shares of the company’s stock valued at $98,325,000 after buying an additional 216,540 shares in the last quarter. APG Asset Management N.V. increased its position in Fomento Economico Mexicano S.A.B. de C.V. by 14.1% during the 2nd 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. Vanguard Group Inc. increased its position in Fomento Economico Mexicano S.A.B. de C.V. by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 156,624 shares of the company’s stock valued at $13,864,000 after buying an additional 18,433 shares in the last quarter. Finally, BT Investment Management Ltd bought a new position in Fomento Economico Mexicano S.A.B. de C.V. during the 2nd quarter valued at approximately $7,306,000. Institutional investors own 21.62% 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.

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

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