Credit Suisse Group Downgrades Fomento Economico Mexicano SAB (NYSE:FMX) to Neutral

Credit Suisse Group lowered shares of Fomento Economico Mexicano SAB (NYSE:FMX) from an outperform rating to a neutral rating in a report issued on Wednesday, December 20th, The Fly reports.

A number of other brokerages also recently issued reports on FMX. BidaskClub raised shares of Fomento Economico Mexicano SAB from a buy rating to a strong-buy rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Fomento Economico Mexicano SAB from a buy rating to a hold rating in a report on Wednesday, August 23rd. Morgan Stanley assumed coverage on shares of Fomento Economico Mexicano SAB in a report on Thursday, September 14th. They set an overweight rating and a $120.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of Fomento Economico Mexicano SAB from a neutral rating to an overweight rating and increased their price objective for the company from $98.00 to $117.00 in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $114.40.

Fomento Economico Mexicano SAB (NYSE:FMX) opened at $95.33 on Wednesday. The stock has a market cap of $31,900.00, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 1.88. Fomento Economico Mexicano SAB has a 52 week low of $74.01 and a 52 week high of $103.82.

A number of hedge funds have recently made changes to their positions in the business. ClariVest Asset Management LLC boosted its stake in shares of Fomento Economico Mexicano SAB by 5.1% in the third quarter. ClariVest Asset Management LLC now owns 57,993 shares of the company’s stock valued at $5,540,000 after purchasing an additional 2,800 shares during the period. Harding Loevner LP boosted its stake in shares of Fomento Economico Mexicano SAB by 27.6% in the second quarter. Harding Loevner LP now owns 999,846 shares of the company’s stock valued at $98,325,000 after purchasing an additional 216,540 shares during the period. Gluskin Sheff & Assoc Inc. boosted its stake in shares of Fomento Economico Mexicano SAB by 2.9% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 88,580 shares of the company’s stock valued at $8,462,000 after purchasing an additional 2,480 shares during the period. BT Investment Management Ltd purchased a new position in shares of Fomento Economico Mexicano SAB in the second quarter valued at approximately $7,306,000. Finally, Bamco Inc. NY lifted its stake in Fomento Economico Mexicano SAB by 11.6% in the third quarter. Bamco Inc. NY now owns 442,932 shares of the company’s stock worth $42,313,000 after acquiring an additional 45,938 shares during the last quarter. 21.23% of the stock is owned by institutional investors.

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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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