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

Fomento Economico Mexicano (NYSE:FMX – Get Free Report) had its price target boosted by UBS Group from $122.00 to $139.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 14.75% from the company’s previous close.

A number of other brokerages also recently weighed in on FMX. JPMorgan Chase & Co. boosted 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 boosted their target price on Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. The Goldman Sachs Group boosted 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. Finally, Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.17.

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Fomento Economico Mexicano Stock Down 1.2%

FMX traded down $1.53 during midday 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 debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The company’s fifty day moving average price is $115.57 and its 200 day moving average price is $108.06. The company has a market cap of $41.86 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.42. Fomento Economico Mexicano has a one year low of $83.08 and a one year high of $125.71.

Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. The firm 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%. As a group, analysts expect that Fomento Economico Mexicano will post 4.87 EPS for the current year.

Insider Transactions at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,311 shares of the company’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $11.19, for a total value of $585,360.09. Following the transaction, the director owned 1,128,453 shares of the company’s stock, valued at approximately $12,627,389.07. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 261,575 shares of company stock worth $2,795,188. Insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Fomento Economico Mexicano by 11,692.3% in the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares during the last quarter. Victory Capital Management Inc. increased its stake in Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after acquiring an additional 595,388 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Fomento Economico Mexicano during the third quarter valued at about $50,343,000. Invesco Ltd. boosted its holdings in shares of Fomento Economico Mexicano by 67.8% during the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after purchasing an additional 423,073 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Fomento Economico Mexicano during the fourth quarter worth about $41,408,000. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

(Get Free Report)

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.

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