Fomento Económico Mexicano (NYSE:FMX – Get Free Report) had its target price cut by The Goldman Sachs Group from $109.00 to $97.80 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 12.77% from the company’s current price.
A number of other equities research analysts have also weighed in on FMX. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.20.
Check Out Our Latest Stock Analysis on FMX
Fomento Económico Mexicano Stock Performance
Institutional Trading of Fomento Económico Mexicano
A number of hedge funds have recently bought and sold shares of FMX. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Fomento Económico Mexicano during the 3rd quarter valued at $7,672,000. BNP Paribas Financial Markets increased its holdings in Fomento Económico Mexicano by 107.7% during the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after buying an additional 169,184 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after acquiring an additional 416,000 shares during the period. Perpetual Ltd boosted its stake in Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after acquiring an additional 421,057 shares during the period. 61.00% of the stock is currently owned by institutional investors.
About Fomento Económico Mexicano
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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