Fomento Económico Mexicano (NYSE:FMX – Get Free Report) had its target price increased by investment analysts at UBS Group from $94.00 to $107.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 8.04% from the company’s current price.
A number of other research analysts have also weighed in on FMX. Barclays raised their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group decreased their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and an average price target of $103.95.
Read Our Latest Stock Report on Fomento Económico Mexicano
Fomento Económico Mexicano Trading Up 1.4 %
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The company had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, equities analysts forecast that Fomento Económico Mexicano will post 5.32 EPS for the current fiscal year.
Institutional Trading of Fomento Económico Mexicano
A number of large investors have recently modified their holdings of the stock. Asset Value Investors Ltd purchased a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $42,793,000. Employees Retirement System of Texas increased its position in shares of Fomento Económico Mexicano by 3.3% during the fourth quarter. Employees Retirement System of Texas now owns 486,584 shares of the company’s stock worth $41,598,000 after acquiring an additional 15,488 shares during the period. Talaria Asset Management Pty Ltd purchased a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $47,110,000. Public Employees Retirement System of Ohio increased its position in shares of Fomento Económico Mexicano by 6.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 213,843 shares of the company’s stock worth $18,281,000 after acquiring an additional 12,689 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $301,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.
About Fomento Económico Mexicano
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.
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