Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Sees Significant Drop in Short Interest

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXGet Rating) saw a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 2,190,000 shares, a drop of 5.2% from the December 15th total of 2,310,000 shares. Based on an average daily volume of 608,800 shares, the short-interest ratio is presently 3.6 days. Approximately 1.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several institutional investors and hedge funds have recently made changes to their positions in FMX. Pinnacle Bancorp Inc. grew its position in shares of Fomento Económico Mexicano by 67.9% in the third quarter. Pinnacle Bancorp Inc. now owns 549 shares of the company’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Fomento Económico Mexicano by 117.0% during the first quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock worth $35,000 after buying an additional 227 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Fomento Económico Mexicano during the third quarter worth approximately $47,000. New York State Common Retirement Fund acquired a new stake in Fomento Económico Mexicano during the third quarter worth approximately $47,000. Finally, Atlas Capital Advisors LLC grew its position in Fomento Económico Mexicano by 68.8% during the third quarter. Atlas Capital Advisors LLC now owns 768 shares of the company’s stock worth $48,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 21.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group upgraded shares of Fomento Económico Mexicano from a “neutral” rating to a “buy” rating in a report on Monday, October 10th. The Goldman Sachs Group increased their target price on shares of Fomento Económico Mexicano from $95.60 to $109.20 and gave the stock a “buy” rating in a report on Wednesday, November 16th. Barclays increased their target price on shares of Fomento Económico Mexicano from $85.00 to $88.00 in a report on Monday, December 19th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Monday, October 31st. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.53.

Fomento Económico Mexicano Stock Performance

NYSE:FMX opened at $84.13 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.40. The stock’s 50 day moving average price is $79.49 and its two-hundred day moving average price is $69.91. Fomento Económico Mexicano has a 12-month low of $58.73 and a 12-month high of $87.88.

Fomento Económico Mexicano (NYSE:FMXGet Rating) last posted its earnings results on Friday, October 28th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.22). Fomento Económico Mexicano had a net margin of 4.56% and a return on equity of 10.38%. The firm had revenue of $8.49 billion during the quarter. On average, equities research analysts predict that Fomento Económico Mexicano will post 3.79 EPS for the current year.

Fomento Económico Mexicano Company Profile

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Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.

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