UBS Group Boosts Fomento Economico Mexicano (NYSE:FMX) Price Target to $122.00

Fomento Economico Mexicano (NYSE:FMX) had its target price upped by stock analysts at UBS Group from $109.00 to $122.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 20.29% from the stock’s previous close.

FMX has been the topic of several other reports. The Goldman Sachs Group boosted their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, Barclays upped their price objective on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano has a consensus rating of “Hold” and a consensus price target of $110.67.

Fomento Economico Mexicano Stock Down 4.4%

Shares of NYSE:FMX opened at $101.42 on Friday. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $116.09. The stock has a market cap of $35.04 billion, a P/E ratio of 35.59, a PEG ratio of 0.74 and a beta of 0.42. The business has a fifty day moving average of $108.40 and a two-hundred day moving average of $100.67. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The company had revenue of $12.21 billion for the quarter, compared to analysts’ expectations of $11.98 billion. On average, research analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FMX. Northwestern Mutual Wealth Management Co. boosted 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 during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fomento Economico Mexicano in the second quarter valued at $40,000. Tower Research Capital LLC TRC boosted its holdings in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano in the fourth quarter valued at $50,000. Finally, Mather Group LLC. acquired a new position in Fomento Economico Mexicano during the 3rd quarter worth $54,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.