A number of other equities analysts also recently commented on the stock. Barclays reduced 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. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $133.40.
Check Out Our Latest Stock Report on Fomento Económico Mexicano
Fomento Económico Mexicano stock traded up $0.13 during mid-day trading on Thursday, reaching $98.42. The company had a trading volume of 271,647 shares, compared to its average volume of 689,666. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano has a 52 week low of $97.58 and a 52 week high of $143.43. The company has a 50 day moving average of $104.36 and a 200-day moving average of $112.18. The firm has a market cap of $35.21 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 5.75 and a beta of 0.94.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, sell-side analysts expect that Fomento Económico Mexicano will post 5.39 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Perpetual Ltd lifted its holdings in Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company's stock valued at $73,719,000 after purchasing an additional 64,291 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Fomento Económico Mexicano by 740.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock valued at $50,832,000 after acquiring an additional 416,000 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Fomento Económico Mexicano in the 2nd quarter valued at about $577,000. Coronation Fund Managers Ltd. increased its position in Fomento Económico Mexicano by 38.9% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 248,643 shares of the company's stock valued at $26,766,000 after acquiring an additional 69,613 shares in the last quarter. Finally, Brandes Investment Partners LP acquired a new stake in Fomento Económico Mexicano in the 2nd quarter valued at about $1,080,000.
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.
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