Fomento Económico Mexicano (NYSE:FMX – Get Free Report) had its target price cut by stock analysts at Barclays from $145.00 to $125.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 26.58% from the stock’s previous close.
A number of other research firms have also recently issued reports on FMX. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.40.
Read Our Latest Research Report on Fomento Económico Mexicano
Fomento Económico Mexicano Price Performance
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The business had revenue of $11.54 billion for the quarter. On average, equities analysts predict that Fomento Económico Mexicano will post 5.41 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Fomento Económico Mexicano
Several institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Fomento Económico Mexicano by 740.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock valued at $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Fomento Económico Mexicano by 9.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after purchasing an additional 344,815 shares during the period. Sustainable Growth Advisers LP boosted its position in shares of Fomento Económico Mexicano by 122.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company’s stock worth $56,785,000 after purchasing an additional 240,256 shares during the last quarter. Millennium Management LLC grew its stake in shares of Fomento Económico Mexicano by 577.6% during the second quarter. Millennium Management LLC now owns 222,464 shares of the company’s stock worth $23,948,000 after purchasing an additional 189,632 shares during the period. Finally, Employees Retirement System of Texas grew its stake in shares of Fomento Económico Mexicano by 64.1% during the second quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock worth $50,713,000 after purchasing an additional 184,000 shares during the period.
Fomento Económico 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.
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