Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $140.00

Key Points

• Barclays raised Fomento Economico Mexicano’s price target to $140 from $138 while maintaining an “equal weight” rating, implying approximately 10.78% upside from the prior close.
• Analyst sentiment is broadly positive: FMX has an average “Moderate Buy” rating and a consensus price target of $142.17, with recent upgrades from JPMorgan and Benchmark.
• FEMSA exceeded quarterly expectations, reporting adjusted earnings of $1.10 per share versus the $1.04 consensus and revenue of $13.03 billion versus $12.84 billion expected.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its price target raised by investment analysts at Barclays from $138.00 to $140.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 10.78% from the company's previous close.

A number of other equities research analysts have also recently commented on FMX. JPMorgan Chase & Co. raised shares of Fomento Economico Mexicano from a "neutral" rating to an "overweight" rating and upped their target price for the company from $126.00 to $151.00 in a report on Friday, October 16th. UBS Group boosted their price target on Fomento Economico Mexicano from $130.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft set a $150.00 target price on Fomento Economico Mexicano in a research note on Tuesday, August 4th. Finally, Benchmark raised Fomento Economico Mexicano to an "overweight" rating in a report on Friday, October 16th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.17.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock opened at $126.38 on Tuesday. The firm's fifty day simple moving average is $121.31 and its 200-day simple moving average is $118.42. Fomento Economico Mexicano has a 12 month low of $90.87 and a 12 month high of $141.47. The stock has a market capitalization of $43.67 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 0.66 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.85.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.78%. The firm had revenue of $13.03 billion during the quarter, compared to analysts' expectations of $12.84 billion. As a group, equities analysts forecast that Fomento Economico Mexicano will post 6.32 earnings per share for the current year.

Insider Transactions at Fomento Economico Mexicano

In other news, Director Michael David Kahn acquired 2,100 shares of Fomento Economico Mexicano stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the transaction, the director directly owned 2,100 shares in the company, valued at approximately $248,073. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of large investors have recently modified their holdings of FMX. HB Wealth Management LLC grew its holdings in Fomento Economico Mexicano by 5.8% in the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company's stock valued at $277,000 after purchasing an additional 136 shares during the last quarter. Matthews International Capital Management LLC boosted its position in shares of Fomento Economico Mexicano by 0.6% in the 1st quarter. Matthews International Capital Management LLC now owns 31,465 shares of the company's stock worth $3,495,000 after buying an additional 174 shares in the last quarter. GAMMA Investing LLC grew its stake in Fomento Economico Mexicano by 79.2% in the 3rd quarter. GAMMA Investing LLC now owns 396 shares of the company's stock valued at $47,000 after acquiring an additional 175 shares during the last quarter. Kestra Advisory Services LLC grew its stake in Fomento Economico Mexicano by 4.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,272 shares of the company's stock valued at $506,000 after acquiring an additional 178 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in Fomento Economico Mexicano by 4.1% during the 1st quarter. Groupama Asset Managment now owns 4,614 shares of the company's stock valued at $512,000 after acquiring an additional 181 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Monterrey, Mexico-based multinational company with operations focused on beverage bottling, retail and related consumer services. The company traces its origins to 1890, when it was established as a brewery in Monterrey, and has since developed into one of Latin America's largest consumer-facing businesses.

FEMSA's principal beverage business is Coca-Cola FEMSA, which produces, markets, sells and distributes Coca-Cola trademark beverages and other nonalcoholic drinks.

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