Fomento Económico Mexicano (NYSE:FMX) Hits New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

FMX has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays reduced their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.33.

Fomento Económico Mexicano Stock Performance

The firm has a market cap of $29.06 billion, a PE ratio of 20.83, a PEG 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. The firm’s 50 day moving average price is $90.02 and its two-hundred day moving average price is $100.28.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FMX. National Bank of Canada FI boosted its position in Fomento Económico Mexicano by 88.1% in the 2nd quarter. National Bank of Canada FI now owns 216,766 shares of the company’s stock valued at $23,495,000 after buying an additional 101,500 shares during the period. Choreo LLC acquired a new position in Fomento Económico Mexicano during the 2nd quarter worth $2,135,000. Headlands Technologies LLC grew its stake in Fomento Económico Mexicano by 243.2% during the 2nd quarter. Headlands Technologies LLC now owns 17,981 shares of the company’s stock worth $1,936,000 after purchasing an additional 12,742 shares in the last quarter. Barings LLC increased its holdings in Fomento Económico Mexicano by 5.5% during the 2nd quarter. Barings LLC now owns 86,893 shares of the company’s stock worth $9,354,000 after purchasing an additional 4,557 shares during the period. Finally, Oldfield Partners LLP raised its position in Fomento Económico Mexicano by 0.8% in the 2nd quarter. Oldfield Partners LLP now owns 13,300 shares of the company’s stock valued at $1,432,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.