Envestnet Asset Management Inc. reduced its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,520 shares of the company’s stock after selling 1,434 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Fomento Económico Mexicano were worth $20,611,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of FMX. Belpointe Asset Management LLC purchased a new stake in shares of Fomento Económico Mexicano during the 4th quarter valued at approximately $30,000. Brown Brothers Harriman & Co. increased its stake 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 acquiring an additional 227 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fomento Económico Mexicano in the first quarter valued at $39,000. Tower Research Capital LLC TRC lifted its stake in shares of Fomento Económico Mexicano by 213.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 539 shares of the company’s stock valued at $51,000 after purchasing an additional 367 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Fomento Económico Mexicano by 15.3% during the 4th quarter. First Horizon Advisors Inc. now owns 920 shares of the company’s stock worth $72,000 after purchasing an additional 122 shares during the period.
Fomento Económico Mexicano Price Performance
Shares of FMX opened at $111.52 on Friday. The company has a market cap of $39.90 billion, a P/E ratio of 10.50, a PEG ratio of 0.93 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $59.55 and a fifty-two week high of $119.62. The company has a quick ratio of 1.44, a current ratio of 1.76 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average price is $111.77 and its 200 day moving average price is $101.87.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Fomento Económico Mexicano from $105.00 to $115.00 in a report on Monday, July 17th. Citigroup upped their price objective on shares of Fomento Económico Mexicano from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, HSBC upped their price target on Fomento Económico Mexicano from $112.00 to $124.00 and gave the stock a “hold” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.
View Our Latest Analysis on Fomento Económico Mexicano
Fomento Económico Mexicano Company 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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