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

Fomento Económico Mexicano (NYSE:FMX) had its target price boosted by investment analysts at Barclays from $102.00 to $108.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 9.38% from the stock’s previous close.

Several other research analysts have also commented on the company. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Itau BBA Securities raised Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. The Goldman Sachs Group lowered their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group raised their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.45.

Fomento Económico Mexicano Stock Performance

FMX stock traded down $3.30 during trading on Monday, reaching $98.74. The stock had a trading volume of 45,510 shares, compared to its average volume of 622,098. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $100.17 and its two-hundred day moving average is $92.75. The firm has a market cap of $35.33 billion, a PE ratio of 25.29, a PEG ratio of 5.26 and a beta of 0.69. Fomento Económico Mexicano has a 52 week low of $81.08 and a 52 week high of $123.09.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, equities analysts anticipate that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of hedge funds have recently made changes to their positions in FMX. Park Avenue Securities LLC purchased a new position in Fomento Económico Mexicano during the 4th quarter worth approximately $225,000. Wells Fargo & Company MN lifted its position in Fomento Económico Mexicano by 17.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company’s stock worth $2,405,000 after acquiring an additional 4,096 shares during the last quarter. Sarasin & Partners LLP lifted its position in Fomento Económico Mexicano by 33.3% during the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 5,000 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Fomento Económico Mexicano by 141.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock worth $11,541,000 after purchasing an additional 79,181 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock worth $21,389,000 after purchasing an additional 4,674 shares during the period. Institutional investors own 61.00% of the company’s stock.

About Fomento Económico Mexicano

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.