Barclays Cuts Fomento Economico Mexicano (NYSE:FMX) Price Target to $105.00

Fomento Economico Mexicano (NYSE:FMX) had its price target reduced by research analysts at Barclays from $107.00 to $105.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 10.72% from the stock’s previous close.

A number of other research firms also recently commented on FMX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and set a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and dropped their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.63.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $94.84 on Monday. The stock’s fifty day moving average price is $92.91 and its 200-day moving average price is $97.57. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The firm has a market cap of $33.93 billion, a P/E ratio of 38.23, a P/E/G ratio of 5.54 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). The company had revenue of $11.71 billion during the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. On average, equities research analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fomento Economico Mexicano in the 1st quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the last quarter. Farther Finance Advisors LLC increased its position in Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Fomento Economico Mexicano during the second quarter worth $40,000. Finally, Tower Research Capital LLC TRC grew its position in shares of 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. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico 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.