JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Fomento Economico Mexicano (NYSE:FMX) Stock

Key Points

• JPMorgan Chase & Co. raised its price target for Fomento Economico Mexicano (FMX) from $96.00 to $102.00, indicating a potential upside of 6.42% from the current stock price.
• Despite the raised target, other analysts have mixed opinions, with Morgan Stanley reducing its target to $97.00 and Zacks Research downgrading the stock to a "strong sell" rating.
• FMX shares traded down 0.3% recently, and the company reported quarterly earnings missing estimates, with an EPS of $0.42 compared to the expected $0.91.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $96.00 to $102.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 6.42% from the stock's current price.

Several other equities analysts have also issued reports on FMX. Morgan Stanley reaffirmed an "equal weight" rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Zacks Research lowered shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Citigroup raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Finally, UBS Group raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $115.00 to $111.00 in a report on Friday, September 19th. Four 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $101.97.

Fomento Economico Mexicano Stock Down 0.3%

FMX stock traded down $0.25 during trading on Monday, hitting $95.84. 318,441 shares of the company's stock traded hands, compared to its average volume of 672,853. The business has a fifty day simple moving average of $91.05 and a two-hundred day simple moving average of $97.72. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano has a 1 year low of $81.07 and a 1 year high of $108.74. The firm has a market capitalization of $34.29 billion, a P/E ratio of 32.60, a PEG ratio of 5.63 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $216.71 billion. Sell-side analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new position in Fomento Economico Mexicano during the first quarter valued at $207,000. Crossmark Global Holdings Inc. lifted its position in Fomento Economico Mexicano by 29.3% during the first quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock valued at $2,572,000 after purchasing an additional 5,977 shares during the period. Royal Bank of Canada lifted its position in Fomento Economico Mexicano by 1.9% during the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company's stock valued at $524,003,000 after purchasing an additional 100,898 shares during the period. INCA Investments LLC lifted its position in Fomento Economico Mexicano by 106.1% during the second quarter. INCA Investments LLC now owns 274,769 shares of the company's stock valued at $28,296,000 after purchasing an additional 141,419 shares during the period. Finally, Cerity Partners LLC lifted its position in Fomento Economico Mexicano by 25.4% during the first quarter. Cerity Partners LLC now owns 13,778 shares of the company's stock valued at $1,344,000 after purchasing an additional 2,795 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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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