Fomento Economico Mexicano (NYSE:FMX) Rating Increased to Buy at Bank of America

Fomento Economico Mexicano (NYSE:FMX) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a $150.00 target price on the stock. Bank of America‘s target price suggests a potential upside of 19.35% from the stock’s previous close.

Several other equities research analysts have also issued reports on FMX. Barclays increased their target price on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a 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 stock an “overweight” rating in a research report on Friday, June 26th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, UBS Group raised their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.86.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $125.68 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a 50-day simple moving average of $126.44 and a two-hundred day simple moving average of $117.26. The firm has a market capitalization of $43.43 billion, a PE ratio of 25.14, a P/E/G ratio of 0.69 and a beta of 0.40. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $141.47.

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 firm had revenue of $13.20 billion for the quarter. Analysts forecast that Fomento Economico Mexicano will post 6.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FMX. AQR Capital Management LLC raised its stake in Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock valued at $593,000 after buying an additional 969 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Fomento Economico Mexicano during the 2nd quarter valued at approximately $429,000. EverSource Wealth Advisors LLC increased its holdings in Fomento Economico Mexicano by 61.0% in the second 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 acquired a new position in Fomento Economico Mexicano in the 2nd quarter worth about $504,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.