Barclays Lowers Fomento Economico Mexicano (NYSE:FMX) Price Target to $105.00

Fomento Economico Mexicano (NYSE:FMX) had its target price decreased by equities research analysts at Barclays from $107.00 to $105.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 13.83% from the company’s current price.

A number of other equities analysts also recently commented on FMX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $115.00 to $111.00 in a report on Friday, September 19th. Morgan Stanley reiterated an “equal weight” rating and set a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Price Performance

Shares of FMX stock opened at $92.24 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 1.06. The firm’s 50-day moving average is $93.13 and its two-hundred day moving average is $97.39. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The company has a market capitalization of $33.00 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 5.54 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The firm had revenue of $11.71 billion for the quarter, compared to analysts’ expectations of $215.60 billion. Analysts predict 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Economico Mexicano during the 1st quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. increased its stake in Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the period. Farther Finance Advisors LLC increased its stake in Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Fomento Economico Mexicano during the 2nd quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC increased its stake in Fomento Economico Mexicano by 42.5% during 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 period. 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., 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.