Fomento Economico Mexicano (NYSE:FMX) Sets New 1-Year High – Should You Buy?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $118.44 and last traded at $115.99, with a volume of 54452 shares. The stock had previously closed at $115.10.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FMX. Barclays lifted their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. UBS Group lifted their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, March 20th. The Goldman Sachs Group lifted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.67.

Fomento Economico Mexicano Stock Up 1.0%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02. The company has a market capitalization of $40.15 billion, a P/E ratio of 40.86, a PEG ratio of 0.84 and a beta of 0.40. The company has a 50 day moving average of $109.84 and a 200-day moving average of $102.48.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. The company had revenue of $12.21 billion for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%. As a group, equities analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Insider Activity

In related news, Director Garza Alfonso Garza sold 52,316 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $10.31, for a total value of $539,377.96. Following the sale, the director directly owned 1,337,712 shares of the company’s stock, valued at $13,791,810.72. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 156,948 shares of company stock valued at $1,630,690 over the last quarter. 5.68% of the stock is owned by company insiders.

Institutional Trading of Fomento Economico Mexicano

Several large investors have recently modified their holdings of FMX. Nuveen LLC boosted its position in Fomento Economico Mexicano by 2.4% during the 4th quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock valued at $389,209,000 after acquiring an additional 88,721 shares in the last quarter. Invesco Ltd. boosted its position in Fomento Economico Mexicano by 18.9% during the 4th quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock valued at $125,814,000 after acquiring an additional 197,914 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Fomento Economico Mexicano by 24.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after acquiring an additional 222,064 shares in the last quarter. Altrinsic Global Advisors LLC boosted its position in Fomento Economico Mexicano by 52.4% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after acquiring an additional 324,781 shares in the last quarter. Finally, Bank of America Corp DE boosted 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 in the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Company Profile

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.