UBS Group Reiterates “Neutral” Rating for Fomento Economico Mexicano (NYSE:FMX)

Fomento Economico Mexicano (NYSE:FMX)‘s stock had its “neutral” rating restated by equities research analysts at UBS Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $139.00 price objective on the stock. UBS Group’s price objective points to a potential upside of 11.84% from the stock’s previous close.

Several other equities research analysts have also issued reports on FMX. Wall Street Zen lowered Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Barclays increased their price objective on Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Zacks Research lowered Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $150.00 price target on Fomento Economico Mexicano in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $127.12.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX opened at $124.28 on Thursday. The company has a market capitalization of $42.95 billion, a PE ratio of 24.86, a PEG ratio of 0.69 and a beta of 0.40. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $126.55 and its 200-day moving average price is $117.56. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $141.47.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. The company had revenue of $13.20 billion during the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%. On average, equities analysts anticipate that Fomento Economico Mexicano will post 6.09 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FMX. AQR Capital Management LLC grew its position in shares of Fomento Economico Mexicano by 11,692.3% during the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after purchasing an additional 709,957 shares in the last quarter. Invesco Ltd. raised its position in shares of Fomento Economico Mexicano by 67.8% in the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after buying an additional 423,073 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Fomento Economico Mexicano during the fourth quarter valued at $41,408,000. Goldman Sachs Group Inc. boosted its stake in Fomento Economico Mexicano by 253.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 567,718 shares of the company’s stock valued at $57,379,000 after buying an additional 407,140 shares during the period. Finally, Royal Bank of Canada increased its stake in Fomento Economico Mexicano by 3.2% in the 1st quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock worth $690,649,000 after acquiring an additional 193,432 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

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.