Fomento Economico Mexicano (NYSE:FMX) Given New $126.00 Price Target at JPMorgan Chase & Co.

Fomento Economico Mexicano (NYSE:FMX) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $117.00 to $126.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 1.15% from the company’s current price.

Other equities analysts have also issued reports about the company. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. UBS Group lifted their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Finally, Barclays raised their price objective on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Fomento Economico Mexicano Trading Up 1.7%

Shares of NYSE:FMX traded up $2.10 during mid-day trading on Friday, reaching $127.47. 253,221 shares of the company’s stock were exchanged, compared to its average volume of 454,479. The business’s fifty day moving average price is $121.22 and its 200-day moving average price is $112.20. 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 firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 0.71 and a beta of 0.42. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $130.55.

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

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its holdings in shares of Fomento Economico Mexicano by 46.3% in the first quarter. NewEdge Advisors LLC now owns 6,016 shares of the company’s stock worth $668,000 after buying an additional 1,905 shares during the last quarter. Summitry LLC raised its position in Fomento Economico Mexicano by 3.3% in the first quarter. Summitry LLC now owns 6,606 shares of the company’s stock worth $734,000 after acquiring an additional 208 shares during the period. Groupama Asset Managment raised its position in Fomento Economico Mexicano by 4.1% in the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock worth $512,000 after acquiring an additional 181 shares during the period. Amundi boosted its stake in shares of Fomento Economico Mexicano by 9.8% during the 1st quarter. Amundi now owns 613,753 shares of the company’s stock worth $68,163,000 after acquiring an additional 54,786 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Fomento Economico Mexicano by 41.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,875 shares of the company’s stock worth $208,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.