Fomento Económico Mexicano (NYSE:FMX) Stock Price Expected to Rise, Barclays Analyst Says

Fomento Económico Mexicano (NYSE:FMX) had its price target raised by analysts at Barclays from $99.00 to $102.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 7.19% from the stock’s current price.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group lowered 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 report on Tuesday, January 28th. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $95.16 on Tuesday. The stock’s 50-day moving average price is $87.02 and its 200 day moving average price is $93.14. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.05 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 5.26 and a beta of 0.90. Fomento Económico Mexicano has a 52-week low of $81.07 and a 52-week high of $131.56.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The company had revenue of $9.99 billion for the quarter, compared to analysts’ expectations of $201.67 billion. As a group, equities research analysts forecast that Fomento Económico Mexicano will post 5.32 EPS for the current year.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of large investors have recently made changes to their positions in the stock. Asset Value Investors Ltd purchased a new stake in Fomento Económico Mexicano during the fourth quarter worth $42,793,000. Employees Retirement System of Texas boosted its position in shares of Fomento Económico Mexicano by 3.3% in the 4th quarter. Employees Retirement System of Texas now owns 486,584 shares of the company’s stock worth $41,598,000 after buying an additional 15,488 shares in the last quarter. Talaria Asset Management Pty Ltd purchased a new stake in Fomento Económico Mexicano in the 4th quarter valued at approximately $47,110,000. Public Employees Retirement System of Ohio grew its holdings in Fomento Económico Mexicano by 6.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 213,843 shares of the company’s stock valued at $18,281,000 after buying an additional 12,689 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth about $301,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico 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.