Fomento Economico Mexicano (NYSE:FMX) Given “Equal Weight” Rating at Morgan Stanley

Fomento Economico Mexicano (NYSE:FMX)‘s stock had its “equal weight” rating reiterated by Morgan Stanley in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $97.00 price objective on the stock, down from their prior price objective of $132.00. Morgan Stanley’s price objective indicates a potential upside of 13.78% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group boosted their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, July 10th. Wall Street Zen cut Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Barclays cut their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.16.

Fomento Economico Mexicano Price Performance

FMX stock opened at $85.25 on Tuesday. The business has a 50 day moving average price of $97.51 and a 200 day moving average price of $98.40. The stock has a market cap of $30.50 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 4.02 and a beta of 0.66. Fomento Economico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $114.13. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. Equities research analysts anticipate that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. increased its position in Fomento Economico Mexicano by 62.0% in the 2nd quarter. Nomura Holdings Inc. now owns 23,878 shares of the company’s stock valued at $2,459,000 after acquiring an additional 9,140 shares during the period. Tower Research Capital LLC TRC increased its position in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the period. Captrust Financial Advisors increased its position in Fomento Economico Mexicano by 5.7% in the 2nd quarter. Captrust Financial Advisors now owns 16,917 shares of the company’s stock valued at $1,742,000 after acquiring an additional 916 shares during the period. Smartleaf Asset Management LLC increased its position in Fomento Economico Mexicano by 49.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,170 shares of the company’s stock valued at $119,000 after acquiring an additional 385 shares during the period. Finally, Orion Porfolio Solutions LLC increased its position in Fomento Economico Mexicano by 17.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 6,127 shares of the company’s stock valued at $631,000 after acquiring an additional 919 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Fomento Economico 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.