Assenagon Asset Management S.A. Reduces Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Assenagon Asset Management S.A. cut its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXFree Report) by 86.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,543 shares of the company’s stock after selling 526,160 shares during the period. Assenagon Asset Management S.A.’s holdings in Fomento Económico Mexicano were worth $11,020,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Morningstar Investment Services LLC boosted its position in Fomento Económico Mexicano by 2.0% in the 3rd quarter. Morningstar Investment Services LLC now owns 97,466 shares of the company’s stock valued at $10,517,000 after buying an additional 1,902 shares during the period. Barclays PLC boosted its position in Fomento Económico Mexicano by 170.3% in the 3rd quarter. Barclays PLC now owns 17,782 shares of the company’s stock valued at $1,941,000 after buying an additional 11,204 shares during the period. QRG Capital Management Inc. purchased a new stake in Fomento Económico Mexicano in the 3rd quarter valued at about $456,000. JPMorgan Chase & Co. boosted its position in Fomento Económico Mexicano by 11.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,880,584 shares of the company’s stock valued at $205,266,000 after buying an additional 193,543 shares during the period. Finally, Black Creek Investment Management Inc. boosted its position in Fomento Económico Mexicano by 10.1% in the 3rd quarter. Black Creek Investment Management Inc. now owns 774,625 shares of the company’s stock valued at $84,550,000 after buying an additional 71,093 shares during the period.

Fomento Económico Mexicano Trading Up 0.0 %

NYSE FMX opened at $130.27 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The firm has a market cap of $46.61 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a 50 day moving average price of $131.13 and a 200 day moving average price of $123.22. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $91.71 and a 52 week high of $143.43.

Fomento Económico Mexicano (NYSE:FMXGet Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. As a group, sell-side analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FMX has been the subject of several research reports. UBS Group cut shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. Bank of America reaffirmed a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup began coverage on shares of Fomento Económico Mexicano in a research report on Thursday, December 7th. They issued a “neutral” rating and a $134.00 price target for the company. Finally, HSBC raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and upped their price target for the stock from $124.00 to $152.00 in a research report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.75.

Get Our Latest Analysis on FMX

About Fomento Económico Mexicano

(Free Report)

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.

Further Reading

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

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