Beach Investment Counsel Inc. PA decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,120 shares of the company’s stock after selling 100 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Fomento Economico Mexicano S.A.B. de C.V. were worth $3,847,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Comgest Global Investors S.A.S. raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 4.9% in the first quarter. Comgest Global Investors S.A.S. now owns 2,946,851 shares of the company’s stock worth $260,855,000 after buying an additional 138,800 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 1.8% in the first quarter. OppenheimerFunds Inc. now owns 2,733,896 shares of the company’s stock worth $242,005,000 after buying an additional 48,486 shares in the last quarter. FIL Ltd raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 15.2% in the first quarter. FIL Ltd now owns 2,346,144 shares of the company’s stock worth $207,680,000 after buying an additional 309,600 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 302.3% in the first quarter. Schroder Investment Management Group now owns 1,402,999 shares of the company’s stock worth $127,013,000 after buying an additional 1,054,253 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 3.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,400,046 shares of the company’s stock worth $123,932,000 after buying an additional 46,083 shares in the last quarter. 23.86% of the stock is owned by hedge funds and other institutional investors.
Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) opened at 98.99 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $73.45 and a 12-month high of $103.82. The company has a market capitalization of $35.42 billion, a price-to-earnings ratio of 28.78 and a beta of 0.57. The stock has a 50 day moving average price of $98.91 and a 200 day moving average price of $90.15.
Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last released its earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Fomento Economico Mexicano S.A.B. de C.V. had a net margin of 5.26% and a return on equity of 8.42%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.49 billion. On average, analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.43 EPS for the current year.
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A number of analysts have commented on FMX shares. Citigroup Inc. lowered Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Friday. BidaskClub lowered Fomento Economico Mexicano S.A.B. de C.V. from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Barclays PLC decreased their price objective on Fomento Economico Mexicano S.A.B. de C.V. from $106.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, May 1st. Finally, Gabelli started coverage on Fomento Economico Mexicano S.A.B. de C.V. in a report on Monday, July 17th. They set a “buy” rating and a $112.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.33.
Fomento Economico Mexicano S.A.B. de C.V. Company Profile
Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.
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