Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXGet Rating) by 72.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,806 shares of the company’s stock after purchasing an additional 3,275 shares during the quarter. SG Americas Securities LLC’s holdings in Fomento Económico Mexicano were worth $490,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Fomento Económico Mexicano by 1.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,976,043 shares of the company’s stock valued at $268,343,000 after purchasing an additional 42,600 shares in the last quarter. BlackRock Inc. raised its stake in shares of Fomento Económico Mexicano by 22.2% in the 1st quarter. BlackRock Inc. now owns 2,019,228 shares of the company’s stock valued at $167,294,000 after purchasing an additional 366,751 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Fomento Económico Mexicano by 5.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,791,321 shares of the company’s stock valued at $120,897,000 after purchasing an additional 90,297 shares in the last quarter. Black Creek Investment Management Inc. raised its stake in shares of Fomento Económico Mexicano by 7.1% in the 2nd quarter. Black Creek Investment Management Inc. now owns 1,447,890 shares of the company’s stock valued at $97,718,000 after purchasing an additional 96,614 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Fomento Económico Mexicano by 11.1% during the 2nd quarter. Renaissance Technologies LLC now owns 911,100 shares of the company’s stock valued at $61,490,000 after buying an additional 90,700 shares during the last quarter. Institutional investors and hedge funds own 21.07% of the company’s stock.

Fomento Económico Mexicano Price Performance

NYSE FMX opened at $86.01 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $58.73 and a 52 week high of $87.88. The company has a current ratio of 1.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.46. The stock has a market cap of $30.78 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The company has a 50-day moving average price of $79.84 and a two-hundred day moving average price of $70.27.

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 return on equity of 10.38% and a net margin of 4.56%. The firm had revenue of $8.49 billion during the quarter. Analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 3.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FMX shares. The Goldman Sachs Group boosted their price objective on shares of Fomento Económico Mexicano from $95.60 to $109.20 and gave the company a “buy” rating in a research report on Wednesday, November 16th. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. UBS Group raised shares of Fomento Económico Mexicano from a “neutral” rating to a “buy” rating in a research report on Monday, October 10th. Finally, Barclays boosted their price objective on shares of Fomento Económico Mexicano from $85.00 to $88.00 in a research report on Monday, December 19th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.53.

About Fomento Económico Mexicano

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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.

See Also

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

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