UBS Group Increases Fomento Economico Mexicano (NYSE:FMX) Price Target to $115.00

Fomento Economico Mexicano (NYSE:FMX) had its price objective boosted by equities research analysts at UBS Group from $112.00 to $115.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 14.09% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Itau BBA Securities upgraded shares of Fomento Economico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Barclays boosted their target price on shares of Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of “Hold” and an average price target of $107.45.

Fomento Economico Mexicano Stock Down 0.7%

FMX stock opened at $100.80 on Thursday. The firm’s fifty day simple moving average is $104.13 and its 200-day simple moving average is $96.87. The company has a market capitalization of $36.06 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 3.19 and a beta of 0.65. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 1.31. Fomento Economico Mexicano has a 12 month low of $81.08 and a 12 month high of $119.18.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. The firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $194.75 billion. As a group, equities research analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. UMB Bank n.a. raised its position in shares of Fomento Economico Mexicano by 25.3% in the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after buying an additional 166 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Fomento Economico Mexicano by 154.1% in the second quarter. Exchange Traded Concepts LLC now owns 80,000 shares of the company’s stock valued at $8,238,000 after buying an additional 48,518 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Fomento Economico Mexicano in the second quarter valued at about $263,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Fomento Economico Mexicano in the second quarter valued at about $215,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.