Barclays Issues Positive Forecast for Fomento Económico Mexicano (NYSE:FMX) Stock Price

Fomento Económico Mexicano (NYSE:FMX) had its target price boosted by equities research analysts at Barclays from $99.00 to $102.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 9.38% from the stock’s current price.

Several other equities research analysts have also recently weighed in on FMX. The Goldman Sachs Group reduced their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

Fomento Económico Mexicano Price Performance

NYSE FMX opened at $93.25 on Tuesday. The company has a 50 day moving average price of $86.75 and a two-hundred day moving average price of $93.27. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $131.56. The stock has a market capitalization of $33.36 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 5.26 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.

Fomento Económico Mexicano (NYSE:FMX) last announced its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $201.67 billion. As a group, equities analysts predict that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of hedge funds have recently added to or reduced their stakes in FMX. FMR LLC grew its stake in shares of Fomento Económico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company’s stock valued at $269,084,000 after purchasing an additional 2,655,962 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Fomento Económico Mexicano by 20.5% in the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock valued at $1,081,939,000 after buying an additional 2,150,913 shares during the period. Schroder Investment Management Group increased its stake in shares of Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after buying an additional 717,666 shares during the period. Talaria Asset Management Pty Ltd bought a new stake in shares of Fomento Económico Mexicano during the fourth quarter worth $47,110,000. Finally, Asset Value Investors Ltd acquired a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at $42,793,000. 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.