Fomento Economico Mexicano S.A.B. de C.V. (FMX) : Traders are bullish on Fomento Economico Mexicano S.A.B. de C.V. (FMX) as it has outperformed the S&P 500 by a wide margin of 4.48% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.87%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.93% in the last 1 week, and is up 5.56% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.69% and the 50-Day Moving Average is 5.57%. Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX): stock turned positive on Friday. Though the stock opened at $96.12, the bulls momentum made the stock top out at $96.99 level for the day. The stock recorded a low of $95.19 and closed the trading day at $96.48, in the green by 0.66%. The total traded volume for the day was 514,662. The stock had closed at $95.85 in the previous days trading.
Institutional Investors own 18.7% of Fomento Economico Mexicano S.A.B. de C.V. shares. Also, HSBC upgrades their rating on the shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX). The current rating of the shares is Buy. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on August 10, 2016.
Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is a holding company. The Company conducts its operations through principal holding companies, each of which it refers to as a principal sub-holding company. These companies are Coca-Cola FEMSA, S.A.B. de C.V. (Coca-Cola FEMSA), which engages in the production, distribution and marketing of beverages, and FEMSA Comercio, S.A. de C.V. (FEMSA Comercio), which operates small-format stores, and CB Equity, LLP (CB Equity), which holds its investment in Heineken N.V. and Heineken Holding N.V. The Companys Coca-Cola FEMSA produces, markets, sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries in which it operates. Coca-Cola FEMSA also sells bottled water products in bulk sizes. FEMSA Comercio operates a chain of small-format stores in Mexico.