Fomento Económico Mexicano (NYSE:FMX) Price Target Lowered to $97.80 at The Goldman Sachs Group

Fomento Económico Mexicano (NYSE:FMX) had its price target decreased by The Goldman Sachs Group from $109.00 to $97.80 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 12.77% from the stock’s current price.

FMX has been the subject of a number of other reports. Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.20.

Fomento Económico Mexicano Stock Performance

NYSE FMX opened at $86.73 on Tuesday. The firm has a market cap of $31.03 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 4.87 and a beta of 0.90. 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 company’s 50 day moving average is $86.29 and its 200-day moving average is $97.14. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $143.43.

Institutional Trading of Fomento Económico Mexicano

Several institutional investors and hedge funds have recently modified their holdings of FMX. Brooklyn Investment Group raised its stake in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Fomento Económico Mexicano in the 3rd quarter worth $55,000. Mather Group LLC. lifted its holdings in shares of Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after acquiring an additional 369 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Fomento Económico Mexicano in the fourth quarter worth $51,000. Finally, Rosenberg Matthew Hamilton increased its stake in Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after acquiring an additional 176 shares during the last quarter. 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.