Fomento Economico Mexicano (NYSE:FMX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Fomento Economico Mexicano (NYSE:FMX) from "hold" to "buy," while other brokers raised price targets (Goldman to $128, UBS to $122, JPMorgan to $117); however, the MarketBeat consensus remains Hold with a $113.17 target (3 Buy, 5 Hold).
• Shares opened at $113.66 (52‑week range $83.08–$119.21) with a $39.27B market cap and a PE of 39.88; the company reported $1.36 EPS and $12.21B revenue for the quarter, insiders sold ~261,575 shares last quarter, and institutions own about 61% of the stock.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other brokerages have also weighed in on FMX. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. UBS Group raised their price target on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. The Goldman Sachs Group raised their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Barclays raised their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Fomento Economico Mexicano currently has a consensus rating of "Hold" and a consensus price target of $113.17.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $113.66 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. Fomento Economico Mexicano has a fifty-two week low of $83.08 and a fifty-two week high of $119.21. The firm has a market capitalization of $39.27 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 0.78 and a beta of 0.40. The stock's 50-day simple moving average is $111.53 and its 200-day simple moving average is $104.09.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The business had revenue of $12.21 billion for the quarter. As a group, equities research analysts forecast that Fomento Economico Mexicano will post 4.87 EPS for the current fiscal year.

Insider Transactions at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction that occurred 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 directly 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 can be accessed through this hyperlink. In the last quarter, insiders sold 261,575 shares of company stock worth $2,795,188. Company insiders own 5.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FMX. AQR Capital Management LLC grew its stake in shares of Fomento Economico Mexicano by 11,692.3% in the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company's stock valued at $73,171,000 after purchasing an additional 709,957 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Fomento Economico Mexicano by 12,960.1% in the 3rd quarter. Victory Capital Management Inc. now owns 599,982 shares of the company's stock valued at $59,176,000 after purchasing an additional 595,388 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Fomento Economico Mexicano in the 3rd quarter valued at approximately $50,343,000. Invesco Ltd. grew its stake in shares of Fomento Economico Mexicano by 67.8% in the 3rd quarter. Invesco Ltd. now owns 1,046,906 shares of the company's stock valued at $103,256,000 after purchasing an additional 423,073 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Fomento Economico Mexicano in the 4th quarter valued at approximately $41,408,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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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