Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $96.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised the price target for Fomento Economico Mexicano (NYSE: FMX) from $95.00 to $96.00, indicating a potential upside of 2.38% from its previous close.
• Other analysts have issued mixed ratings, with Zacks lowering their rating to "strong sell," while Citigroup upgraded it to "buy" with a higher price target of $97.00.
• The company reported an earnings miss last quarter, with 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 hoisted by research analysts at JPMorgan Chase & Co. from $95.00 to $96.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 2.38% from the stock's previous close.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research note on Friday, September 5th. Citigroup raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their price target for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Barclays reduced their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. UBS Group boosted their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $101.63.

Fomento Economico Mexicano Stock Performance

Shares of FMX traded up $1.46 during trading hours on Monday, hitting $93.77. The stock had a trading volume of 80,582 shares, compared to its average volume of 673,473. Fomento Economico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $108.74. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The firm has a market capitalization of $33.55 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 5.41 and a beta of 0.70. The firm has a 50-day moving average price of $91.28 and a 200 day moving average price of $98.13.

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 (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $216.71 billion. As a group, research analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Institutional Trading of Fomento Economico Mexicano

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in shares of Fomento Economico Mexicano by 29.5% in the fourth quarter. Millennium Management LLC now owns 255,677 shares of the company's stock worth $21,858,000 after acquiring an additional 58,220 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Fomento Economico Mexicano in the fourth quarter valued at approximately $1,183,000. Quantinno Capital Management LP acquired a new stake in Fomento Economico Mexicano in the fourth quarter valued at approximately $218,000. Voloridge Investment Management LLC lifted its stake in Fomento Economico Mexicano by 45.8% in the fourth quarter. Voloridge Investment Management LLC now owns 51,038 shares of the company's stock valued at $4,363,000 after acquiring an additional 16,038 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter worth $301,000. 61.00% of the stock is currently owned by institutional investors.

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.

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