Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $117.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase raised its price target on Fomento Economico Mexicano from $98 to $117 while maintaining a neutral rating, implying only about a 0.5% upside from the stock's current level (~$116.42).
• Other firms including Goldman Sachs and UBS also raised targets (to $128 and $122 respectively), but the consensus remains a Hold with an average price target of $113.17 (three Buy ratings vs. five Hold ratings).
• Shares traded down to $116.42 with a market cap of about $40.23B and a P/E of 40.93; a director recently sold 52,316 shares, insiders own 5.68% of the stock, and institutions hold roughly 61%.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from $98.00 to $117.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 0.50% from the stock's current price.

FMX has been the topic of several other research reports. Barclays increased their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. The Goldman Sachs Group increased their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, UBS Group increased their price target on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $113.17.

Fomento Economico Mexicano Stock Down 1.1%

Shares of FMX traded down $1.30 during mid-day trading on Monday, hitting $116.42. 153,743 shares of the company traded hands, compared to its average volume of 413,624. Fomento Economico Mexicano has a 1-year low of $83.08 and a 1-year high of $119.21. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $40.23 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 0.86 and a beta of 0.40. The business has a 50 day moving average of $111.35 and a 200 day moving average of $103.54.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The company had revenue of $12.21 billion for the quarter. Equities research analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of the firm's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $11.07, for a total value of $579,138.12. Following the transaction, the director owned 1,233,080 shares in the company, valued at approximately $13,650,195.60. This trade represents a 4.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 261,575 shares of company stock valued at $2,795,188. Company insiders own 5.68% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 7.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company's stock worth $134,000 after acquiring an additional 96 shares during the period. UMB Bank n.a. raised its holdings in shares of Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company's stock worth $74,000 after acquiring an additional 96 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock worth $45,000 after acquiring an additional 131 shares during the period. Arax Advisory Partners raised its holdings in shares of Fomento Economico Mexicano by 20.1% during the 4th quarter. Arax Advisory Partners now owns 812 shares of the company's stock worth $82,000 after acquiring an additional 136 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Fomento Economico Mexicano by 5.1% during the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company's stock worth $302,000 after acquiring an additional 144 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.

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