Fomento Económico Mexicano (NYSE:FMX) Rating Lowered to Neutral at JPMorgan Chase & Co.

Fomento Económico Mexicano (NYSE:FMX) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Monday, MarketBeat reports. They presently have a $109.00 price target on the stock, up from their prior price target of $104.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 7.93% from the company’s current price.

A number of other research analysts have also commented on FMX. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Barclays cut their price objective on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.40.

Fomento Económico Mexicano Stock Up 0.7 %

Fomento Económico Mexicano stock opened at $100.99 on Monday. The firm has a market capitalization of $36.13 billion, a PE ratio of 27.37, a P/E/G ratio of 5.75 and a beta of 0.94. The company’s 50-day moving average is $107.36 and its 200-day moving average is $114.18. Fomento Económico Mexicano has a fifty-two week low of $98.97 and a fifty-two week high of $143.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The business had revenue of $11.54 billion for the quarter. Sell-side analysts anticipate that Fomento Económico Mexicano will post 5.44 earnings per share for the current year.

Hedge Funds Weigh In On Fomento Económico Mexicano

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Place Capital Corp lifted its stake in Fomento Económico Mexicano by 78.2% in the 1st quarter. Park Place Capital Corp now owns 221 shares of the company’s stock valued at $29,000 after purchasing an additional 97 shares during the last quarter. Mather Group LLC. acquired a new position in Fomento Económico Mexicano in the 1st quarter valued at approximately $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Fomento Económico Mexicano in the 2nd quarter valued at approximately $51,000. Parallel Advisors LLC increased its position in Fomento Económico Mexicano by 22.1% in the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after acquiring an additional 134 shares during the period. Finally, CWM LLC increased its position in Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after acquiring an additional 213 shares during the period.

Fomento Económico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.