Brokerages Set Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Target Price at $100.97

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $100.9667.

Several research analysts recently weighed in on FMX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Saturday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Barclays lowered their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Zacks Research lowered shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th.

Fomento Economico Mexicano Stock Down 0.6%

Shares of FMX opened at $95.73 on Monday. The company has a market capitalization of $34.25 billion, a P/E ratio of 32.56, a PEG ratio of 5.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. Fomento Economico Mexicano has a one year low of $81.07 and a one year high of $108.74. The business’s 50 day simple moving average is $90.05 and its 200-day simple moving average is $98.02.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. As a group, sell-side analysts predict that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several large investors have recently modified their holdings of FMX. Caitong International Asset Management Co. Ltd bought a new position in shares of Fomento Economico Mexicano during the first quarter valued at $29,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 valued at $35,000 after acquiring an additional 321 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after acquiring an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Fomento Economico Mexicano during the second quarter valued at $40,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

About Fomento Economico 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.