The Goldman Sachs Group Issues Pessimistic Forecast for Fomento Económico Mexicano (NYSE:FMX) Stock Price

Fomento Económico Mexicano (NYSE:FMX) had its target price reduced by The Goldman Sachs Group from $109.00 to $97.80 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 14.67% from the company’s current price.

Several other research firms have also recently commented on FMX. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of “Moderate Buy” and a consensus target price of $119.20.

Fomento Económico Mexicano Stock Performance

FMX traded up $0.64 during midday trading on Tuesday, reaching $85.29. The company’s stock had a trading volume of 132,033 shares, compared to its average volume of 427,099. Fomento Económico Mexicano has a twelve month low of $81.07 and a twelve month high of $143.43. The stock has a market cap of $30.51 billion, a P/E ratio of 21.84, a PEG ratio of 4.87 and a beta of 0.90. The company has a fifty day simple moving average of $86.45 and a 200 day simple moving average of $97.57. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Institutional Trading of Fomento Económico Mexicano

Several institutional investors have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Fomento Económico Mexicano during the third quarter worth about $7,672,000. BNP Paribas Financial Markets lifted its position in shares of Fomento Económico Mexicano by 107.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after buying an additional 169,184 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after buying an additional 416,000 shares during the period. Perpetual Ltd grew its position in Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the period. Finally, Baillie Gifford & Co. raised its stake in Fomento Económico Mexicano by 10.8% during the third quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after acquiring an additional 421,057 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.