Fomento Económico Mexicano (NYSE:FMX) Cut to Equal Weight at Barclays

Fomento Económico Mexicano (NYSE:FMX) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, Marketbeat.com reports.

Several other equities analysts also recently commented on FMX. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $126.33.

Fomento Económico Mexicano Stock Up 0.0 %

Shares of NYSE:FMX opened at $82.30 on Tuesday. The firm has a market capitalization of $29.45 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 4.76 and a beta of 0.90. The business has a 50 day simple moving average of $87.03 and a two-hundred day simple moving average of $98.31. Fomento Económico Mexicano has a 1 year low of $81.07 and a 1 year high of $143.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

Institutional Investors Weigh In On Fomento Económico Mexicano

Several hedge funds have recently modified their holdings of FMX. Stifel Financial Corp raised its position in shares of Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after acquiring an additional 149 shares in the last quarter. Brooklyn Investment Group grew its stake in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 154 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Fomento Económico Mexicano by 2.0% during the third quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock valued at $940,000 after buying an additional 191 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Fomento Económico Mexicano by 29.7% during the fourth quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after buying an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.