Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $125.00 at Barclays

Key Points

• Fomento Economico Mexicano (NYSE:FMX) had its price target raised by Barclays from $118 to $125 while keeping an "equal weight" rating, implying about a 3.37% upside from the current price.
• Other brokers are more bullish — Goldman Sachs raised its target to $128 with a "buy" rating and UBS to $122 with a "buy"; the consensus is a “Moderate Buy” with an average target of $114.33.
• The stock traded at $120.93 (market cap $41.79B, P/E 27.1), and insiders sold 261,575 shares (~$2.8M) in the last three months, though insiders still own 5.68% and institutional investors hold 61% of the shares.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its price objective lifted by analysts at Barclays from $118.00 to $125.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 3.37% from the company's current price.

Several other research firms also recently weighed in on FMX. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a report on Friday, March 20th. Zacks Research upgraded shares of Fomento Economico Mexicano from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Wall Street Zen upgraded shares of Fomento Economico Mexicano from a "buy" rating to a "strong-buy" rating in a research note on Sunday. The Goldman Sachs Group boosted their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $114.33.

Fomento Economico Mexicano Trading Up 0.8%

Fomento Economico Mexicano stock traded up $0.96 during trading on Monday, hitting $120.93. The company had a trading volume of 73,222 shares, compared to its average volume of 419,719. Fomento Economico Mexicano has a 1-year low of $83.08 and a 1-year high of $121.62. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company's 50 day simple moving average is $111.59 and its 200-day simple moving average is $104.80. The stock has a market cap of $41.79 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 0.82 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.63%. The firm had revenue of $11.61 billion during the quarter. As a group, analysts expect that Fomento Economico Mexicano will post 4.87 EPS for the current fiscal year.

Insider Activity at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of the business's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total value of $579,138.12. Following the completion of the transaction, the director owned 1,233,080 shares in the company, valued at $13,650,195.60. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 261,575 shares of company stock valued at $2,795,188 in the last three months. Insiders own 5.68% of the company's stock.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nuveen LLC grew its stake in shares of Fomento Economico Mexicano by 2.4% during the fourth quarter. Nuveen LLC now owns 3,850,882 shares of the company's stock worth $389,209,000 after purchasing an additional 88,721 shares in the last quarter. Invesco Ltd. grew its stake in shares of Fomento Economico Mexicano by 18.9% during the fourth quarter. Invesco Ltd. now owns 1,244,820 shares of the company's stock worth $125,814,000 after purchasing an additional 197,914 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company's stock worth $112,928,000 after purchasing an additional 222,064 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Fomento Economico Mexicano by 21.2% during the third quarter. Bank of America Corp DE now owns 758,186 shares of the company's stock worth $74,780,000 after purchasing an additional 132,440 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock worth $73,171,000 after purchasing an additional 709,957 shares in the last quarter. Institutional investors and hedge funds 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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