Barclays Forecasts Strong Price Appreciation for Fomento Economico Mexicano (NYSE:FMX) Stock

Fomento Economico Mexicano (NYSE:FMX) had its target price upped by analysts at Barclays from $138.00 to $140.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 10.78% from the company’s previous close.

A number of other analysts have also recently commented on FMX. Bank of America upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $150.00 in a research report on Tuesday, August 4th. Zacks Research lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a research note on Tuesday, August 4th. Benchmark upgraded shares of Fomento Economico Mexicano to an “overweight” rating in a report on Friday, October 16th. Finally, Wall Street Zen lowered shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.17.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX opened at $126.38 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The business’s fifty day moving average price is $121.31 and its two-hundred day moving average price is $118.42. The stock has a market cap of $43.67 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 0.66 and a beta of 0.41. Fomento Economico Mexicano has a one year low of $90.87 and a one year high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Fomento Economico Mexicano had a return on equity of 7.78% and a net margin of 3.98%. The company had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.84 billion. On average, analysts forecast that Fomento Economico Mexicano will post 6.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael David Kahn purchased 2,100 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $118.13 per share, with a total value of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at approximately $248,073. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.68% of the company’s stock.

Institutional Trading of Fomento Economico Mexicano

Several institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC increased its holdings in shares of Fomento Economico Mexicano by 5.8% during the 1st quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock worth $277,000 after buying an additional 136 shares during the last quarter. Matthews International Capital Management LLC boosted its holdings in Fomento Economico Mexicano by 0.6% in the first quarter. Matthews International Capital Management LLC now owns 31,465 shares of the company’s stock valued at $3,495,000 after acquiring an additional 174 shares during the last quarter. GAMMA Investing LLC grew its position in Fomento Economico Mexicano by 79.2% during the third quarter. GAMMA Investing LLC now owns 396 shares of the company’s stock valued at $47,000 after acquiring an additional 175 shares during the period. Kestra Advisory Services LLC increased its stake in Fomento Economico Mexicano by 4.3% during the third quarter. Kestra Advisory Services LLC now owns 4,272 shares of the company’s stock worth $506,000 after acquiring an additional 178 shares during the last quarter. Finally, Groupama Asset Managment increased its stake in Fomento Economico Mexicano by 4.1% during the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock worth $512,000 after acquiring an additional 181 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Monterrey, Mexico-based multinational company with operations focused on beverage bottling, retail and related consumer services. The company traces its origins to 1890, when it was established as a brewery in Monterrey, and has since developed into one of Latin America’s largest consumer-facing businesses.

FEMSA’s principal beverage business is Coca-Cola FEMSA, which produces, markets, sells and distributes Coca-Cola trademark beverages and other nonalcoholic drinks.