Fomento Economico Mexicano (NYSE:FMX) Upgraded at JPMorgan Chase & Co.

Fomento Economico Mexicano (NYSE:FMX) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $151.00 price objective on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.87% from the stock’s current price.

A number of other brokerages have also weighed in on FMX. Benchmark upgraded Fomento Economico Mexicano to an “overweight” rating in a research note on Friday. Zacks Research downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Finally, Barclays raised their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.83.

Fomento Economico Mexicano Trading Up 0.2%

FMX stock opened at $120.92 on Friday. The business has a fifty day moving average price of $119.43 and a 200 day moving average price of $121.46. Fomento Economico Mexicano has a fifty-two week low of $90.87 and a fifty-two week high of $141.47. The stock has a market capitalization of $41.78 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 0.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The firm had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. Analysts expect that Fomento Economico Mexicano will post 6.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael David Kahn acquired 2,100 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $118.13 per share, with a total value of $248,073.00. Following the acquisition, the director owned 2,100 shares of the company’s stock, valued at $248,073. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FMX. Allianz Asset Management GmbH bought a new stake in shares of Fomento Economico Mexicano during the second quarter worth approximately $1,210,000. Virtu Financial LLC acquired a new position in Fomento Economico Mexicano in the fourth quarter valued at approximately $1,137,000. Madison Asset Management LLC acquired a new position in Fomento Economico Mexicano in the second quarter valued at approximately $1,727,000. Cook & Bynum Capital Management LLC acquired a new position in Fomento Economico Mexicano in the second quarter valued at approximately $29,857,616. Finally, Public Employees Retirement System of Ohio bought a new position in Fomento Economico Mexicano in the second quarter valued at approximately $18,937,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.