UBS Group Cuts Fomento Economico Mexicano (NYSE:FMX) Price Target to $130.00

Key Points

• UBS Group cut its price target for Fomento Económico Mexicano from $139 to $130 while maintaining a “neutral” rating, implying 12.5% upside from the prior close.
• Analyst sentiment remains mixed: FMX has an overall “Hold” rating and an average price target of $135.67, with three Buy ratings and four Hold ratings.
• FMX shares fell to $115.56 during Thursday trading. The company reported quarterly EPS of $0.93 on $13.20 billion in revenue, while institutional investors own approximately 61% of its stock.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its price target reduced by stock analysts at UBS Group from $139.00 to $130.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target suggests a potential upside of 12.50% from the company's previous close.

A number of other research analysts have also commented on FMX. Bank of America raised Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and upped their price objective for the company from $125.00 to $150.00 in a report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Zacks Research cut shares of Fomento Economico Mexicano from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Fomento Economico Mexicano in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Fomento Economico Mexicano from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Fomento Economico Mexicano has an average rating of "Hold" and an average target price of $135.67.

Fomento Economico Mexicano Stock Performance

FMX stock traded down $3.00 during mid-day trading on Thursday, hitting $115.56. 74,900 shares of the company were exchanged, compared to its average volume of 456,923. Fomento Economico Mexicano has a 1-year low of $90.87 and a 1-year high of $141.47. The stock has a market capitalization of $39.93 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.40. The business has a 50 day simple moving average of $121.10 and a 200-day simple moving average of $120.49. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The company had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. On average, equities analysts forecast that Fomento Economico Mexicano will post 6.35 earnings per share for the current year.

Insider Activity at Fomento Economico Mexicano

In related news, Director Michael David Kahn bought 2,100 shares of Fomento Economico Mexicano stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the acquisition, the director directly owned 2,100 shares of the company's stock, valued at approximately $248,073. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Fomento Economico Mexicano

A number of institutional investors have recently bought and sold shares of FMX. Virtu Financial LLC bought a new stake in shares of Fomento Economico Mexicano during the 4th quarter valued at about $1,137,000. Allianz Asset Management GmbH acquired a new stake in shares of Fomento Economico Mexicano in the 2nd quarter worth about $1,210,000. Madison Asset Management LLC bought a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth $1,727,000. Cook & Bynum Capital Management LLC purchased a new position in Fomento Economico Mexicano in the second quarter valued at approximately $29,857,616. Finally, Public Employees Retirement System of Ohio bought a new position in Fomento Economico Mexicano during the second quarter worth about $18,937,000. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.

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