Natixis Advisors LLC trimmed its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Free Report) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,261 shares of the company’s stock after selling 6,471 shares during the period. Natixis Advisors LLC’s holdings in Fomento Económico Mexicano were worth $5,159,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynasty Wealth Management LLC acquired a new position in shares of Fomento Económico Mexicano during the 1st quarter valued at about $1,059,000. Zimmer Partners LP boosted its position in shares of Fomento Económico Mexicano by 377.8% in the first quarter. Zimmer Partners LP now owns 215,000 shares of the company’s stock worth $28,008,000 after acquiring an additional 170,000 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Fomento Económico Mexicano by 41.6% in the first quarter. Virtu Financial LLC now owns 6,865 shares of the company’s stock worth $894,000 after acquiring an additional 2,018 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Fomento Económico Mexicano by 8.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after acquiring an additional 105 shares during the last quarter. Finally, Baker Ellis Asset Management LLC boosted its position in shares of Fomento Económico Mexicano by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 43,446 shares of the company’s stock worth $4,677,000 after acquiring an additional 140 shares during the last quarter.
Fomento Económico Mexicano Trading Up 0.6 %
FMX opened at $87.12 on Friday. The firm has a market capitalization of $31.17 billion, a P/E ratio of 22.34, a P/E/G ratio of 5.23 and a beta of 0.94. The firm’s 50 day moving average is $97.00 and its 200-day moving average is $106.03. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $86.13 and a 52-week high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.
Fomento Económico Mexicano Cuts Dividend
Analyst Ratings Changes
Several equities research analysts recently issued reports on FMX shares. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays cut their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.25.
Read Our Latest Stock Analysis on FMX
Fomento Económico Mexicano Profile
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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