Fomento Economico Mexicano (NYSE:FMX) Given New $130.00 Price Target at Barclays

Fomento Economico Mexicano (NYSE:FMX) had its price objective raised by equities research analysts at Barclays from $125.00 to $130.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 0.76% from the stock’s current price.

FMX has been the topic of a number of other research reports. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. UBS Group upped their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen cut Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.50.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $129.02 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. The stock has a market cap of $44.58 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. The firm has a 50-day moving average of $124.48 and a two-hundred day moving average of $114.45. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $131.81.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The business had revenue of $11.61 billion for the quarter. On average, research analysts forecast that Fomento Economico Mexicano will post 6.19 earnings per share for the current year.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of large investors have recently modified their holdings of FMX. EverSource Wealth Advisors LLC boosted its stake in Fomento Economico Mexicano by 7.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock worth $134,000 after purchasing an additional 96 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after buying an additional 96 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 worth $45,000 after buying an additional 131 shares during the period. HB Wealth Management LLC grew its holdings in shares of Fomento Economico Mexicano by 5.8% during the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock valued at $277,000 after buying an additional 136 shares during the last quarter. Finally, Arax Advisory Partners increased its position in shares of Fomento Economico Mexicano by 20.1% in the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.