Fomento Economico Mexicano (NYSE:FMX) Price Target Raised to $96.00 at JPMorgan Chase & Co.

Fomento Economico Mexicano (NYSE:FMX) had its price target lifted by research analysts at JPMorgan Chase & Co. from $95.00 to $96.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.38% from the company’s previous close.

A number of other brokerages have also commented on FMX. Citigroup raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Zacks Research downgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research report on Friday, September 5th. Morgan Stanley restated an “equal weight” rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. UBS Group upped their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Finally, Barclays cut their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $101.63.

Fomento Economico Mexicano Price Performance

Shares of FMX traded up $1.46 during trading hours on Monday, hitting $93.77. The stock had a trading volume of 80,582 shares, compared to its average volume of 673,473. The company’s fifty day moving average is $91.28 and its two-hundred day moving average is $98.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. Fomento Economico Mexicano has a 52 week low of $81.07 and a 52 week high of $108.74. The stock has a market capitalization of $33.55 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 5.41 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Monday, July 28th. The company reported $0.42 earnings per share 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 the consensus estimate of $216.71 billion. On average, analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Institutional Trading of Fomento Economico Mexicano

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Fomento Economico Mexicano by 1.9% in the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company’s stock valued at $524,003,000 after buying an additional 100,898 shares during the period. Nuveen LLC acquired a new position in Fomento Economico Mexicano in the first quarter valued at approximately $330,437,000. Citigroup Inc. lifted its stake in Fomento Economico Mexicano by 309.6% in the second quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock valued at $176,600,000 after buying an additional 1,296,194 shares during the period. Aberdeen Group plc lifted its stake in Fomento Economico Mexicano by 10.8% in the second quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock valued at $119,414,000 after buying an additional 112,813 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its stake in Fomento Economico Mexicano by 105.4% in the first quarter. Itau Unibanco Holding S.A. now owns 1,112,036 shares of the company’s stock valued at $106,139,000 after buying an additional 570,640 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Company Profile

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.