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

Fomento Economico Mexicano (NYSE:FMX) had its price target dropped by research analysts at UBS Group from $139.00 to $130.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 12.50% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Barclays increased their price objective on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and raised their target price for the company from $125.00 to $150.00 in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on Fomento Economico Mexicano in a research report on Tuesday, August 4th. Finally, Zacks Research cut Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.67.

Fomento Economico Mexicano Price Performance

FMX traded down $3.00 during midday trading on Thursday, hitting $115.56. The stock had a trading volume of 74,900 shares, compared to its average volume of 456,923. Fomento Economico Mexicano has a 1 year low of $90.87 and a 1 year high of $141.47. The company has a market cap of $39.93 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.40. The business has a fifty day moving average of $121.10 and a 200 day moving average of $120.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The company had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. As a group, equities analysts forecast that Fomento Economico Mexicano will post 6.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Fomento Economico Mexicano

In other news, Director Michael David Kahn purchased 2,100 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the transaction, the director directly owned 2,100 shares in the company, valued at $248,073. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. boosted its stake in Fomento Economico Mexicano by 33.3% in the 2nd quarter. QRG Capital Management Inc. now owns 2,557 shares of the company’s stock worth $327,000 after purchasing an additional 639 shares during the period. Tidal Investments LLC increased its holdings in shares of Fomento Economico Mexicano by 11.4% in the 2nd quarter. Tidal Investments LLC now owns 8,778 shares of the company’s stock worth $1,123,000 after buying an additional 896 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Fomento Economico Mexicano during the second quarter worth approximately $217,000. NewEdge Advisors LLC raised its holdings in Fomento Economico Mexicano by 30.9% during the 2nd quarter. NewEdge Advisors LLC now owns 7,872 shares of the company’s stock valued at $1,007,000 after buying an additional 1,856 shares during the period. Finally, IFP Advisors Inc purchased a new stake in shares of Fomento Economico Mexicano in the second quarter valued at $118,000. 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 Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.