UBS Group Issues Positive Forecast for Fomento Economico Mexicano (NYSE:FMX) Stock Price

Fomento Economico Mexicano (NYSE:FMX) had its price target raised by equities researchers at UBS Group from $122.00 to $139.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 14.75% from the company’s previous close.

FMX has been the topic of a number of other research reports. The Goldman Sachs Group increased their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Barclays increased their price target on Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four 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 an average price target of $117.17.

Fomento Economico Mexicano Trading Down 1.2%

Shares of Fomento Economico Mexicano stock traded down $1.53 during trading on Thursday, reaching $121.14. 534,457 shares of the company were exchanged, compared to its average volume of 440,075. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $125.71. The business has a 50-day moving average price of $115.57 and a 200-day moving average price of $108.06. The firm has a market capitalization of $41.86 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 0.84 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. Sell-side analysts anticipate that Fomento Economico Mexicano will post 4.87 EPS for the current fiscal year.

Insider Activity

In other news, Director Garza Alfonso Garza sold 52,316 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $11.07, for a total transaction of $579,138.12. Following the completion of the transaction, the director directly owned 1,233,080 shares in the company, valued at $13,650,195.60. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 261,575 shares of company stock worth $2,795,188 in the last ninety days. 5.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FMX. AQR Capital Management LLC raised its position in shares of Fomento Economico Mexicano by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after acquiring an additional 969 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Fomento Economico Mexicano in the 2nd quarter valued at about $429,000. EverSource Wealth Advisors LLC increased its position in Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock valued at $119,000 after buying an additional 438 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Fomento Economico Mexicano in the 2nd quarter valued at about $504,000. 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.