Fomento Económico Mexicano (NYSE:FMX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Fomento Económico Mexicano (NYSE:FMX – Get Rating) in a research report sent to investors on Thursday. The firm issued a buy rating on the stock.

A number of other research firms also recently issued reports on FMX. Scotiabank upgraded shares of Fomento Económico Mexicano from a sector perform rating to an outperform rating in a report on Thursday, February 16th. Citigroup initiated coverage on shares of Fomento Económico Mexicano in a report on Friday, March 3rd. They issued a buy rating for the company. The Goldman Sachs Group lifted their price target on shares of Fomento Económico Mexicano from $95.60 to $109.20 and gave the company a buy rating in a research report on Wednesday, November 16th. Barclays cut shares of Fomento Económico Mexicano from an overweight rating to an equal weight rating and set a $100.00 price target on the stock. in a research report on Friday, March 3rd. Finally, HSBC lifted their price target on shares of Fomento Económico Mexicano from $58.00 to $77.00 and gave the company a reduce rating in a research report on Friday, February 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $93.24.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock opened at $87.23 on Thursday. Fomento Económico Mexicano has a 1 year low of $58.73 and a 1 year high of $95.81. The firm has a 50 day moving average price of $87.56 and a 200 day moving average price of $77.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.40.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FMX. Bank of New York Mellon Corp lifted its position in shares of Fomento Económico Mexicano by 674.3% during the first quarter. Bank of New York Mellon Corp now owns 51,178 shares of the company’s stock worth $4,239,000 after purchasing an additional 44,568 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Fomento Económico Mexicano by 8.0% during the first quarter. American Century Companies Inc. now owns 15,776 shares of the company’s stock worth $1,307,000 after purchasing an additional 1,162 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Fomento Económico Mexicano during the first quarter worth $202,000. BlackRock Inc. lifted its position in shares of Fomento Económico Mexicano by 22.2% during the first quarter. BlackRock Inc. now owns 2,019,228 shares of the company’s stock worth $167,294,000 after purchasing an additional 366,751 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fomento Económico Mexicano by 24.6% during the first quarter. Dimensional Fund Advisors LP now owns 390,008 shares of the company’s stock worth $32,314,000 after purchasing an additional 77,073 shares in the last quarter. 21.07% of the stock is owned by institutional investors and hedge funds.

About Fomento Económico Mexicano

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Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.