Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $125.00 at Barclays

Fomento Economico Mexicano (NYSE:FMX) had its price target lifted by research analysts at Barclays from $118.00 to $125.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 3.37% from the stock’s previous close.

Several other equities analysts also recently issued reports on FMX. Wall Street Zen upgraded shares of Fomento Economico Mexicano from a “buy” rating to a “strong-buy” rating in a research note on Sunday. UBS Group upped their price objective on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group upped their price objective on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.33.

Fomento Economico Mexicano Stock Up 0.8%

Shares of FMX stock traded up $0.96 on Monday, reaching $120.93. 73,222 shares of the stock were exchanged, compared to its average volume of 419,719. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $111.59 and its 200 day moving average price is $104.80. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 0.82 and a beta of 0.42. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $121.62.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results 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 net margin of 3.40% and a return on equity of 7.63%. As a group, sell-side analysts expect that Fomento Economico Mexicano will post 4.87 earnings per share for the current fiscal year.

Insider Activity at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,311 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total value of $585,360.09. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 261,575 shares of company stock valued at $2,795,188 over the last three months. 5.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 7.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after buying an additional 96 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after buying an additional 96 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Fomento Economico Mexicano by 5.8% in the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after buying an additional 136 shares during the last quarter. Finally, Arax Advisory Partners raised its holdings in shares of Fomento Economico Mexicano by 20.1% in the fourth quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after buying an additional 136 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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.