Barclays Increases Fomento Económico Mexicano (NYSE:FMX) Price Target to $108.00

Fomento Económico Mexicano (NYSE:FMX) had its price target lifted by stock analysts at Barclays from $102.00 to $108.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 9.38% from the stock’s current price.

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

Fomento Económico Mexicano Stock Down 3.2%

Fomento Económico Mexicano stock traded down $3.30 during mid-day trading on Monday, reaching $98.74. The company’s stock had a trading volume of 45,510 shares, compared to its average volume of 622,098. The business’s 50 day simple moving average is $100.17 and its 200 day simple moving average is $92.75. Fomento Económico Mexicano has a 12 month low of $81.08 and a 12 month high of $123.09. The company has a market capitalization of $35.33 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) 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 analyst estimates of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, research analysts anticipate that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FMX. Barclays PLC lifted its holdings in shares of Fomento Económico Mexicano by 78.2% in the 3rd quarter. Barclays PLC now owns 72,159 shares of the company’s stock valued at $7,123,000 after acquiring an additional 31,656 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares during the period. Assenagon Asset Management S.A. increased its holdings in Fomento Económico Mexicano by 141.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock valued at $11,541,000 after buying an additional 79,181 shares during the period. Park Avenue Securities LLC purchased a new position in Fomento Económico Mexicano in the fourth quarter worth $225,000. Finally, Brooklyn Investment Group grew its holdings in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Company Profile

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.