Capital Research Global Investors Takes $14.20 Million Position in Fomento Economico Mexicano S.A.B. de C.V. (FMX)

Capital Research Global Investors purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 144,378 shares of the company’s stock, valued at approximately $14,198,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new stake in Fomento Economico Mexicano S.A.B. de C.V. in the first quarter valued at about $240,000. Stifel Financial Corp lifted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 20.1% during the 1st quarter. Stifel Financial Corp now owns 3,292 shares of the company’s stock valued at $293,000 after acquiring an additional 550 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the 1st quarter valued at approximately $239,000. Wellington Management Group LLP acquired a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the 1st quarter valued at approximately $20,045,000. Finally, Legal & General Group Plc lifted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 282.2% during the 1st quarter. Legal & General Group Plc now owns 10,564 shares of the company’s stock valued at $936,000 after acquiring an additional 7,800 shares during the period. 21.62% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages recently issued reports on FMX. Gabelli began coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They set a “buy” rating and a $112.00 price objective for the company. Zacks Investment Research cut shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Finally, Morgan Stanley initiated coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research note on Thursday, September 14th. They issued an “overweight” rating and a $120.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $110.00.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) opened at 94.60 on Monday. 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 cap of $33.85 billion, a P/E ratio of 27.91 and a beta of 0.55. The company’s 50 day moving average is $98.46 and its 200-day moving average is $95.96.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.49 billion. Analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.45 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX).

Institutional Ownership by Quarter for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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