Barclays Lowers Fomento Economico Mexicano (NYSE:FMX) Price Target to $107.00

Key Points

• Barclays has reduced its target price for Fomento Economico Mexicano from $110.00 to $107.00, maintaining an "equal weight" rating, which suggests a potential upside of 17.79% from the last closing price.
• Other analysts have varied opinions, with Itau BBA Securities upgrading the stock to "outperform" while Wall Street Zen downgraded it to "hold"; the overall average rating remains at "Hold" with a consensus price target of $107.20.
• Fomento Economico Mexicano reported an earnings miss in its latest quarterly results, posting an EPS of $0.42, significantly below the consensus estimate of $0.91.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its price target cut by investment analysts at Barclays from $110.00 to $107.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 20.37% from the company's previous close.

A number of other analysts have also recently weighed in on the company. Itau BBA Securities raised Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. UBS Group lifted their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $107.20.

Fomento Economico Mexicano Stock Down 0.1%

Shares of Fomento Economico Mexicano stock traded down $0.08 during trading on Thursday, reaching $88.89. The company's stock had a trading volume of 64,597 shares, compared to its average volume of 599,309. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The company has a market cap of $31.80 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 4.20 and a beta of 0.66. Fomento Economico Mexicano has a 1-year low of $81.07 and a 1-year high of $114.33. The company has a 50-day simple moving average of $101.82 and a two-hundred day simple moving average of $98.26.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates 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, equities analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano by 41.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after buying an additional 108 shares during the period. Stephens Inc. AR lifted its holdings in shares of Fomento Economico Mexicano by 2.1% in the 1st quarter. Stephens Inc. AR now owns 5,937 shares of the company's stock valued at $579,000 after buying an additional 121 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Fomento Economico Mexicano by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock valued at $266,000 after buying an additional 125 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Fomento Economico Mexicano by 4.6% in the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company's stock valued at $293,000 after buying an additional 125 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Fomento Economico Mexicano by 25.3% in the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company's stock valued at $85,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds 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.