Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $116.00 at Barclays

Fomento Economico Mexicano (NYSE:FMX) had its price target hoisted by equities researchers at Barclays from $105.00 to $116.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 3.26% from the company’s current price.

A number of other analysts have also issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $104.60.

Fomento Economico Mexicano Trading Up 1.8%

FMX opened at $112.34 on Tuesday. Fomento Economico Mexicano has a 12-month low of $83.08 and a 12-month high of $111.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The stock has a fifty day moving average of $103.47 and a 200-day moving average of $96.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Fomento Economico Mexicano in the second quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its position in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares in the last quarter. Mather Group LLC. acquired a new position in Fomento Economico Mexicano in the 3rd quarter worth about $54,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Fomento Economico Mexicano by 220.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after buying an additional 499 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.