The Fomento Economico Mexicano SAB (FMX) Upgraded at JPMorgan Chase & Co.

The Fomento Economico Mexicano SAB (FMX) Upgraded at JPMorgan Chase & Co.

Fomento Economico Mexicano SAB (NYSE:FMX) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday.

FMX has been the topic of several other reports. Zacks Investment Research downgraded Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Stifel Nicolaus initiated coverage on Fomento Economico Mexicano SAB in a report on Tuesday, November 22nd. They issued a “buy” rating on the stock. Finally, Barclays PLC set a $92.00 target price on Fomento Economico Mexicano SAB and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $100.33.

Fomento Economico Mexicano SAB (NYSE:FMX) opened at 75.19 on Friday. The company has a 50 day moving average price of $76.34 and a 200-day moving average price of $87.81. Fomento Economico Mexicano SAB has a one year low of $73.45 and a one year high of $100.57. The firm has a market capitalization of $26.90 billion, a PE ratio of 29.14 and a beta of 0.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. increased its position in Fomento Economico Mexicano SAB by 14.5% in the third quarter. Itau Unibanco Holding S.A. now owns 273,379 shares of the company’s stock valued at $25,162,000 after buying an additional 34,708 shares in the last quarter. Fayez Sarofim & Co. increased its position in Fomento Economico Mexicano SAB by 0.7% in the third quarter. Fayez Sarofim & Co. now owns 126,560 shares of the company’s stock valued at $11,648,000 after buying an additional 900 shares in the last quarter. ETRADE Capital Management LLC increased its position in Fomento Economico Mexicano SAB by 16.5% in the third quarter. ETRADE Capital Management LLC now owns 9,439 shares of the company’s stock valued at $869,000 after buying an additional 1,334 shares in the last quarter. Scout Investments Inc. increased its position in Fomento Economico Mexicano SAB by 13.9% in the third quarter. Scout Investments Inc. now owns 9,860 shares of the company’s stock valued at $908,000 after buying an additional 1,200 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Fomento Economico Mexicano SAB by 2.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 280,330 shares of the company’s stock valued at $25,802,000 after buying an additional 5,970 shares in the last quarter. 22.89% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano SAB Company Profile

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

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