Fomento Económico Mexicano (NYSE:FMX) Hits New 52-Week Low – What’s Next?

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $83.62 and last traded at $83.78, with a volume of 19887 shares changing hands. The stock had previously closed at $85.42.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, Barclays cut their price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Fomento Económico Mexicano Trading Down 3.9 %

The firm’s fifty day simple moving average is $90.33 and its 200 day simple moving average is $100.47. The stock has a market capitalization of $29.38 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 5.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

Institutional Trading of Fomento Económico Mexicano

Several large investors have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its holdings in shares of Fomento Económico Mexicano by 10.8% in the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after acquiring an additional 421,057 shares during the last quarter. Black Creek Investment Management Inc. lifted its stake in Fomento Económico Mexicano by 15.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock valued at $97,617,000 after purchasing an additional 121,800 shares during the last quarter. Perpetual Ltd boosted its position 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 buying an additional 64,291 shares in the last quarter. FMR LLC grew its stake in shares of Fomento Económico Mexicano by 5.3% during the third quarter. FMR LLC now owns 491,582 shares of the company’s stock worth $48,524,000 after buying an additional 24,537 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Fomento Económico Mexicano by 740.2% during 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 buying an additional 416,000 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Económico Mexicano Company Profile

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.