Fomento Economico Mexicano (NYSE:FMX) Earns Neutral Rating from UBS Group

Fomento Economico Mexicano (NYSE:FMX)‘s stock had its “neutral” rating reissued by stock analysts at UBS Group in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $139.00 target price on the stock. UBS Group’s price target points to a potential upside of 13.62% from the company’s current price.

FMX has been the topic of several other reports. Barclays raised their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Zacks Research lowered Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $150.00 price target on Fomento Economico Mexicano in a report on Tuesday. Finally, Bank of America raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $150.00 in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $127.12.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $122.34 on Thursday. The company has a 50 day moving average price of $126.63 and a 200-day moving average price of $117.74. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $141.47. The firm has a market capitalization of $42.27 billion, a PE ratio of 24.47, a P/E/G ratio of 0.68 and a beta of 0.40. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The company had revenue of $13.20 billion during the quarter. As a group, equities research analysts expect that Fomento Economico Mexicano will post 6.09 earnings per share for the current year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Fomento Economico Mexicano by 11,692.3% during the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after purchasing an additional 709,957 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Fomento Economico Mexicano by 67.8% in the 3rd quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after buying an additional 423,073 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Fomento Economico Mexicano during the fourth quarter worth $41,408,000. Goldman Sachs Group Inc. grew its position in shares of Fomento Economico Mexicano by 253.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 567,718 shares of the company’s stock valued at $57,379,000 after acquiring an additional 407,140 shares during the period. Finally, Royal Bank of Canada increased its position in Fomento Economico Mexicano by 3.2% during the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after buying an additional 193,432 shares during the last quarter. 61.00% of the stock is currently 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.