Barclays Raises Fomento Economico Mexicano (NYSE:FMX) Price Target to $118.00

Fomento Economico Mexicano (NYSE:FMX) had its price target raised by stock analysts at Barclays from $116.00 to $118.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 5.72% from the company’s previous close.

FMX has been the topic of a number of other research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. The Goldman Sachs Group lifted their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.83.

Fomento Economico Mexicano Stock Performance

FMX stock opened at $111.62 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $116.09. The company’s 50 day simple moving average is $107.10 and its 200-day simple moving average is $98.96.

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

Institutional Investors Weigh In On Fomento Economico Mexicano

Large investors have recently made changes to their positions in the company. Nuveen LLC boosted its holdings in shares of Fomento Economico Mexicano by 2.4% during the 4th quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock worth $389,209,000 after buying an additional 88,721 shares during the period. Citigroup Inc. lifted its position in Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after acquiring an additional 1,296,194 shares during the last quarter. Invesco Ltd. boosted its holdings in Fomento Economico Mexicano by 18.9% during the fourth quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock valued at $125,814,000 after acquiring an additional 197,914 shares during the period. ANTIPODES PARTNERS Ltd boosted its holdings in Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after acquiring an additional 222,064 shares during the period. Finally, Altrinsic Global Advisors LLC grew its position in shares of Fomento Economico Mexicano by 52.4% in the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after purchasing an additional 324,781 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

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.