Fomento Economico Mexicano (NYSE:FMX) Stock Price Expected to Rise, Barclays Analyst Says

Fomento Economico Mexicano (NYSE:FMX) had its price objective increased by equities research analysts at Barclays from $105.00 to $116.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 3.26% from the stock’s current price.

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

Fomento Economico Mexicano Stock Performance

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

Institutional Trading of Fomento Economico Mexicano

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its stake in shares of 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 acquiring an additional 1,296,194 shares during the period. ANTIPODES PARTNERS Ltd grew its stake in shares of Fomento Economico Mexicano by 24.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after buying an additional 222,064 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Fomento Economico Mexicano by 67.8% during the third quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after purchasing an additional 423,073 shares during the period. Altrinsic Global Advisors LLC raised its holdings in shares of Fomento Economico Mexicano by 52.4% in the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock valued at $97,298,000 after acquiring an additional 324,781 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Fomento Economico Mexicano by 21.2% in the third quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock worth $74,780,000 after acquiring an additional 132,440 shares during the period. 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.