Fomento Economico Mexicano (NYSE:FMX) Stock Price Expected to Rise, Barclays Analyst Says

Fomento Economico Mexicano (NYSE:FMX) had its price target boosted by analysts at Barclays from $125.00 to $130.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 0.76% from the stock’s previous close.

A number of other analysts have also weighed in on FMX. UBS Group increased their price objective on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their price target on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $129.02 on Tuesday. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $131.81. The business’s 50 day moving average price is $124.48 and its 200 day moving average price is $114.45. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $44.58 billion, a P/E ratio of 28.86, a P/E/G ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The company had revenue of $11.61 billion during the quarter. On average, sell-side analysts expect that Fomento Economico Mexicano will post 6.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FMX. EverSource Wealth Advisors LLC lifted its position in shares of Fomento Economico Mexicano by 7.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after buying an additional 96 shares in the last quarter. UMB Bank n.a. raised its position in Fomento Economico Mexicano by 15.1% during the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after acquiring an additional 96 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Fomento Economico Mexicano by 5.8% during the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after purchasing an additional 136 shares in the last quarter. Finally, Arax Advisory Partners lifted its holdings in Fomento Economico Mexicano by 20.1% during the fourth quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after purchasing an additional 136 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.