Confluence Investment Management LLC Buys 582 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Confluence Investment Management LLC grew its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXGet Rating) by 20.0% during the second quarter, Holdings Channel reports. The firm owned 3,487 shares of the company’s stock after purchasing an additional 582 shares during the period. Confluence Investment Management LLC’s holdings in Fomento Económico Mexicano were worth $235,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FMX. State of New Jersey Common Pension Fund D increased its position in shares of Fomento Económico Mexicano by 17.2% during the first quarter. State of New Jersey Common Pension Fund D now owns 195,056 shares of the company’s stock valued at $16,160,000 after acquiring an additional 28,572 shares during the last quarter. Russell Investments Group Ltd. increased its position in Fomento Económico Mexicano by 1.8% in the first quarter. Russell Investments Group Ltd. now owns 310,991 shares of the company’s stock worth $25,811,000 after buying an additional 5,365 shares during the last quarter. DAVENPORT & Co LLC increased its position in Fomento Económico Mexicano by 7.5% in the first quarter. DAVENPORT & Co LLC now owns 20,352 shares of the company’s stock worth $1,686,000 after buying an additional 1,422 shares during the last quarter. Privium Fund Management B.V. purchased a new stake in Fomento Económico Mexicano in the first quarter worth $261,000. Finally, Guggenheim Capital LLC boosted its holdings in shares of Fomento Económico Mexicano by 38.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,039 shares of the company’s stock worth $2,102,000 after acquiring an additional 7,564 shares during the period. Institutional investors own 19.15% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the subject of several research analyst reports. Bradesco Corretora raised Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Wednesday, June 1st. The Goldman Sachs Group dropped their price target on Fomento Económico Mexicano from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Barclays dropped their price target on Fomento Económico Mexicano from $92.00 to $78.00 in a research note on Friday, July 29th. Finally, FIG Partners raised Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.71.

Fomento Económico Mexicano Stock Down 0.7 %

FMX opened at $65.33 on Friday. The company has a market cap of $23.38 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.52 and a beta of 0.92. The business’s 50-day moving average price is $63.14 and its 200-day moving average price is $70.73. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 0.59. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $58.73 and a 12 month high of $89.43.

Fomento Económico Mexicano Company Profile

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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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Institutional Ownership by Quarter for Fomento Económico Mexicano (NYSE:FMX)

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