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

Fomento Economico Mexicano (NYSE:FMX) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $117.00 to $126.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 1.15% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Barclays upped their target price on Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. Finally, UBS Group increased their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Fomento Economico Mexicano has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Fomento Economico Mexicano Price Performance

Shares of FMX traded up $2.10 during mid-day trading on Friday, hitting $127.47. 253,221 shares of the stock were exchanged, compared to its average volume of 454,479. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The company has a market cap of $44.05 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 0.71 and a beta of 0.42. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $130.55. The firm has a 50-day moving average of $121.22 and a two-hundred day moving average of $112.20.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. On average, equities analysts predict that Fomento Economico Mexicano will post 5.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMX. Fundamenta Capital S.A. acquired a new position in Fomento Economico Mexicano during the fourth quarter worth about $13,527,000. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 595,388 shares during the last quarter. Northcape Capital Pty Ltd lifted its stake in Fomento Economico Mexicano by 15.1% in the 4th quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company’s stock worth $46,279,000 after purchasing an additional 58,920 shares in the last quarter. INCA Investments LLC lifted its stake in Fomento Economico Mexicano by 6.9% in the 4th quarter. INCA Investments LLC now owns 395,261 shares of the company’s stock worth $39,949,000 after purchasing an additional 25,536 shares in the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of Fomento Economico Mexicano by 100.2% during the 4th quarter. Perpetual Ltd now owns 85,067 shares of the company’s stock worth $8,598,000 after purchasing an additional 42,580 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Company Profile

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.