Fomento Economico Mexicano SAB (NYSE:FMX) shares were up 3.1% on Friday . The stock traded as high as $93.52 and last traded at $96.28. Approximately 102,085 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 469,812 shares. The stock had previously closed at $93.36.
Several analysts have issued reports on the company. Zacks Investment Research lowered Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. ValuEngine lowered Fomento Economico Mexicano SAB from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Fomento Economico Mexicano SAB has an average rating of “Buy” and a consensus target price of $114.40.
The company has a market capitalization of $33.34 billion, a PE ratio of 15.87, a P/E/G ratio of 1.74 and a beta of 0.47. The company has a quick ratio of 1.17, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.
Fomento Economico Mexicano SAB (NYSE:FMX) last issued its earnings results on Thursday, April 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.33). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Fomento Economico Mexicano SAB had a return on equity of 13.14% and a net margin of 8.57%. analysts predict that Fomento Economico Mexicano SAB will post 3.83 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Glovista Investments LLC purchased a new stake in shares of Fomento Economico Mexicano SAB during the fourth quarter valued at approximately $3,243,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Fomento Economico Mexicano SAB during the fourth quarter valued at approximately $30,738,000. Renaissance Technologies LLC boosted its stake in shares of Fomento Economico Mexicano SAB by 2,286.4% during the fourth quarter. Renaissance Technologies LLC now owns 52,500 shares of the company’s stock valued at $4,930,000 after purchasing an additional 50,300 shares during the period. First Trust Advisors LP purchased a new stake in shares of Fomento Economico Mexicano SAB during the fourth quarter valued at approximately $306,000. Finally, Millennium Management LLC boosted its stake in shares of Fomento Economico Mexicano SAB by 138.3% during the fourth quarter. Millennium Management LLC now owns 565,201 shares of the company’s stock valued at $53,072,000 after purchasing an additional 328,012 shares during the period. 19.66% of the stock is owned by institutional investors and hedge funds.
Fomento Economico Mexicano SAB Company Profile
Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. The company produces, markets, distributes, and sells Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; and waters and still beverages comprising juice, coffee, tea, milk, value-added dairy, sports, energy, and plant-based drinks.
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