UBS Group Upgrades Fomento Economico Mexicano (NYSE:FMX) to “Buy”

Fomento Economico Mexicano (NYSE:FMX) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $111.00 target price on the stock, down from their previous target price of $115.00. UBS Group’s price target indicates a potential upside of 15.17% from the stock’s current price.

Several other research analysts have also weighed in on the company. Barclays dropped their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Morgan Stanley reissued an “equal weight” rating and set a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Citigroup raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.97.

Fomento Economico Mexicano Price Performance

Shares of FMX opened at $96.38 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The stock has a fifty day moving average price of $90.34 and a 200 day moving average price of $98.09. The company has a market cap of $34.48 billion, a P/E ratio of 32.78, a PEG ratio of 5.64 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.49). The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. On average, research analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of large investors have recently modified their holdings of FMX. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano during the 1st quarter valued at $29,000. Northwestern Mutual Wealth Management Co. increased its position in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Farther Finance Advisors LLC increased its position in Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Fomento Economico Mexicano during the 2nd quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.