Fomento Economico Mexicano (NYSE:FMX) Given New $117.00 Price Target at JPMorgan Chase & Co.

Fomento Economico Mexicano (NYSE:FMX) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $98.00 to $117.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 0.50% from the company’s current price.

Several other analysts have also issued reports on FMX. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. UBS Group boosted their price objective on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $113.17.

Fomento Economico Mexicano Trading Down 1.1%

FMX traded down $1.30 on Monday, hitting $116.42. The company had a trading volume of 153,743 shares, compared to its average volume of 413,624. The firm has a market cap of $40.23 billion, a P/E ratio of 40.93, a PEG ratio of 0.86 and a beta of 0.40. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $119.21. The company’s fifty day moving average price is $111.35 and its 200 day moving average price is $103.54. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.36 earnings per share (EPS) for the quarter. The firm had revenue of $12.21 billion for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. As a group, equities analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Insider Transactions at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the sale, the director directly owned 1,128,453 shares in the company, valued at $12,627,389.07. This represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 261,575 shares of company stock worth $2,795,188. 5.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in Fomento Economico Mexicano by 95.9% during the 1st quarter. SG Americas Securities LLC now owns 13,788 shares of the company’s stock worth $1,531,000 after buying an additional 6,750 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Fomento Economico Mexicano by 5.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,433 shares of the company’s stock worth $1,459,000 after buying an additional 733 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Fomento Economico Mexicano by 10,750.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,302 shares of the company’s stock worth $132,000 after buying an additional 1,290 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Fomento Economico Mexicano by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,891 shares of the company’s stock worth $494,000 after buying an additional 301 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Fomento Economico Mexicano by 92.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 762 shares of the company’s stock worth $77,000 after buying an additional 366 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

About Fomento Economico Mexicano

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.