Fomento Economico Mexicano’s (FMX) “Neutral” Rating Reiterated at UBS Group

Fomento Economico Mexicano (NYSE:FMX)‘s stock had its “neutral” rating reiterated by investment analysts at UBS Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $139.00 price objective on the stock. UBS Group’s target price would suggest a potential upside of 11.84% from the stock’s previous close.

Several other equities analysts have also issued reports on FMX. Zacks Research lowered Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Fomento Economico Mexicano in a research note on Tuesday. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and boosted their target price for the company from $125.00 to $150.00 in a research report on Tuesday. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average price target of $127.12.

Fomento Economico Mexicano Price Performance

FMX stock opened at $124.28 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $126.55 and its 200 day simple moving average is $117.56. Fomento Economico Mexicano has a 12-month low of $83.08 and a 12-month high of $141.47. The firm has a market cap of $42.95 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 0.69 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The company had revenue of $13.20 billion for the quarter. On average, analysts expect that Fomento Economico Mexicano will post 6.09 earnings per share for the current year.

Institutional Trading of Fomento Economico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after purchasing an additional 193,432 shares during the last quarter. Nuveen LLC boosted its position in shares of Fomento Economico Mexicano by 2.4% during the fourth quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock valued at $389,209,000 after buying an additional 88,721 shares during the last quarter. Invesco Ltd. grew its holdings in Fomento Economico Mexicano by 18.9% during the fourth quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock worth $125,814,000 after buying an additional 197,914 shares in the last quarter. Bank of America Corp DE grew its holdings in Fomento Economico Mexicano by 21.2% during the third quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock worth $74,780,000 after buying an additional 132,440 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after buying an additional 709,957 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.