Barclays Issues Positive Forecast for Fomento Económico Mexicano (NYSE:FMX) Stock Price

Fomento Económico Mexicano (NYSE:FMX) had its price target increased by stock analysts at Barclays from $102.00 to $108.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 5.93% from the stock’s previous close.

A number of other equities research analysts have also issued reports on FMX. UBS Group upped their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. 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 report on Tuesday, January 28th. StockNews.com lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Itau BBA Securities raised Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $105.45.

Fomento Económico Mexicano Stock Up 2.1%

FMX opened at $101.95 on Monday. Fomento Económico Mexicano has a twelve month low of $81.08 and a twelve month high of $123.03. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $100.35 and a 200 day moving average price of $92.84. The company has a market cap of $36.48 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 5.26 and a beta of 0.69.

Fomento Económico Mexicano (NYSE:FMX) last released 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). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $194.75 billion. Sell-side analysts expect that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Institutional Trading of Fomento Económico Mexicano

Institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC purchased a new stake in shares of Fomento Económico Mexicano during the 4th quarter valued at approximately $225,000. Wells Fargo & Company MN raised its position in shares of Fomento Económico Mexicano by 17.0% during the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company’s stock valued at $2,405,000 after buying an additional 4,096 shares during the period. Sarasin & Partners LLP raised its position in shares of Fomento Económico Mexicano by 33.3% during the 4th quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock valued at $1,710,000 after buying an additional 5,000 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Fomento Económico Mexicano by 141.8% during the 4th 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. Finally, American Century Companies Inc. raised its position in shares of Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock valued at $21,389,000 after buying an additional 4,674 shares during the period. 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.