Fomento Economico Mexicano (NYSE:FMX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Fomento Economico Mexicano (NYSE:FMX) had its target price increased by investment analysts at The Goldman Sachs Group from $113.00 to $128.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 13.44% from the stock’s current price.

Several other brokerages have also recently weighed in on FMX. Barclays lifted their price target on Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and an average target price of $108.50.

Fomento Economico Mexicano Price Performance

NYSE:FMX opened at $112.83 on Wednesday. The firm’s fifty day moving average is $104.15 and its two-hundred day moving average is $96.50. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano has a one year low of $83.08 and a one year high of $115.90.

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Fomento Economico Mexicano during the second quarter worth $40,000. Tower Research Capital LLC TRC grew its holdings in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Fomento Economico Mexicano in the third quarter valued at about $54,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after buying an additional 499 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

About Fomento Economico Mexicano

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.