Fomento Económico Mexicano (NYSE:FMX) Price Target Raised to $112.00

Fomento Económico Mexicano (NYSE:FMX) had its price objective upped by investment analysts at UBS Group from $107.00 to $112.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 8.45% from the stock’s previous close.

A number of other research firms also recently issued reports on FMX. Barclays increased their target price on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. 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 for the company in a research report on Tuesday, January 28th. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Finally, StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.70.

Fomento Económico Mexicano Stock Up 0.8%

Shares of FMX opened at $103.28 on Thursday. The firm has a market cap of $36.95 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69. The company’s fifty day moving average is $100.70 and its two-hundred day moving average is $92.98. Fomento Económico Mexicano has a fifty-two week low of $81.08 and a fifty-two week high of $121.21. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business 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%. Analysts forecast that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Económico Mexicano during the 1st quarter worth $29,000. Brooklyn Investment Group lifted its stake in shares of 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 acquiring an additional 154 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Fomento Económico Mexicano in the first quarter worth about $46,000. Banque Transatlantique SA acquired a new position in shares of Fomento Económico Mexicano in the fourth quarter worth about $44,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Fomento Económico Mexicano in the first quarter worth about $51,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Económico Mexicano

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.