Fomento Economico Mexicano (NYSE:FMX) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Fomento Economico Mexicano (NYSE:FMX) from “buy” to “hold” in a recent research note, adding to a mixed but generally positive analyst backdrop.
• Despite the downgrade, the overall analyst consensus remains Moderate Buy, with an average price target of $119.50 and several firms recently raising their targets or ratings.
• FMX reported $2.43 EPS and $11.61 billion in quarterly revenue in its latest earnings release, while the stock traded around $129.07 with a market cap of $44.6 billion.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Several other analysts have also recently weighed in on FMX. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. UBS Group upped their price objective on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Barclays lifted their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $119.50.

Fomento Economico Mexicano Trading Down 0.3%

NYSE FMX opened at $129.07 on Friday. The stock has a market cap of $44.60 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. Fomento Economico Mexicano has a fifty-two week low of $83.08 and a fifty-two week high of $134.52. The stock has a 50 day simple moving average of $125.19 and a two-hundred day simple moving average of $115.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The firm had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. On average, analysts forecast that Fomento Economico Mexicano will post 6.19 earnings per share for the current year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Fomento Economico Mexicano by 3.2% during the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company's stock valued at $690,649,000 after buying an additional 193,432 shares during the period. Nuveen LLC increased its stake in shares of Fomento Economico Mexicano by 2.4% in the 4th quarter. Nuveen LLC now owns 3,850,882 shares of the company's stock worth $389,209,000 after acquiring an additional 88,721 shares in the last quarter. Invesco Ltd. increased its stake in shares of Fomento Economico Mexicano by 18.9% in the 4th quarter. Invesco Ltd. now owns 1,244,820 shares of the company's stock worth $125,814,000 after acquiring an additional 197,914 shares in the last quarter. Bank of America Corp DE lifted its position in Fomento Economico Mexicano by 21.2% during the 3rd quarter. Bank of America Corp DE now owns 758,186 shares of the company's stock valued at $74,780,000 after acquiring an additional 132,440 shares during the period. Finally, AQR Capital Management LLC lifted its position in Fomento Economico Mexicano by 11,692.3% during the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock valued at $73,171,000 after acquiring an additional 709,957 shares during the period. Institutional investors own 61.00% of the company's stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA's operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company's business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company's retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.

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