Fomento Economico Mexicano (NYSE:FMX) Sets New 1-Year High – Should You Buy?

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $118.44 and last traded at $115.99, with a volume of 54452 shares changing hands. The stock had previously closed at $115.10.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. UBS Group lifted their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Barclays lifted their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus price target of $110.67.

Fomento Economico Mexicano Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The business has a 50-day moving average price of $109.84 and a 200 day moving average price of $102.48. The stock has a market capitalization of $40.15 billion, a P/E ratio of 40.86, a PEG ratio of 0.84 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Saturday, February 14th. The company reported $1.36 EPS for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion for the quarter. As a group, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Insider Activity at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,316 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $10.31, for a total value of $539,377.96. Following the sale, the director directly owned 1,337,712 shares of the company’s stock, valued at $13,791,810.72. The trade was a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 156,948 shares of company stock valued at $1,630,690. Insiders own 5.68% of the company’s stock.

Institutional Trading of Fomento Economico Mexicano

Hedge funds have recently made changes to their positions in the stock. Value Partners Investments Inc. boosted its position in shares of Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock worth $13,516,000 after purchasing an additional 41,400 shares in the last quarter. Strs Ohio raised its holdings in Fomento Economico Mexicano by 8.5% in the 3rd quarter. Strs Ohio now owns 319,300 shares of the company’s stock worth $31,493,000 after acquiring an additional 25,000 shares during the last quarter. LBP AM SA raised its holdings in Fomento Economico Mexicano by 22.1% in the 3rd quarter. LBP AM SA now owns 518,532 shares of the company’s stock worth $51,143,000 after acquiring an additional 93,997 shares during the last quarter. ABS Direct Equity Fund LLC raised its holdings in Fomento Economico Mexicano by 37.6% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock worth $8,901,000 after acquiring an additional 24,650 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Fomento Economico Mexicano by 79.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 143,865 shares of the company’s stock worth $14,189,000 after acquiring an additional 63,865 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Company Profile

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.