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

Key Points

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Fomento Economico Mexicano (NYSE:FMX - Get Free Report)'s stock had its "equal weight" rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $97.00 price objective on the stock, down from their prior price objective of $132.00. Morgan Stanley's target price would indicate a potential upside of 13.78% from the company's previous close.

A number of other research firms have also recently weighed in on FMX. Barclays reduced their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, UBS Group upped their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $105.16.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $85.25 on Tuesday. The stock has a market cap of $30.50 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 4.02 and a beta of 0.66. The business has a 50-day simple moving average of $97.51 and a 200-day simple moving average of $98.40. 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 has a 52-week low of $81.07 and a 52-week high of $114.13.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. On average, equities analysts expect that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FMX. Caitong International Asset Management Co. Ltd acquired a new stake in Fomento Economico Mexicano during the first quarter worth $29,000. Northwestern Mutual Wealth Management Co. increased its stake in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock worth $38,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Fomento Economico Mexicano during the second quarter worth $40,000. Finally, Banque Transatlantique SA purchased a new position in shares of Fomento Economico Mexicano during the fourth quarter worth $44,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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