Schroder Investment Management Group reduced its holdings in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 90.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 209,351 shares of the company’s stock after selling 1,938,988 shares during the quarter. Schroder Investment Management Group’s holdings in Fomento Economico Mexicano SAB were worth $19,658,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP lifted its holdings in Fomento Economico Mexicano SAB by 453.3% during the third quarter. Quantbot Technologies LP now owns 1,101 shares of the company’s stock worth $105,000 after acquiring an additional 902 shares during the period. State of Wisconsin Investment Board bought a new stake in Fomento Economico Mexicano SAB during the third quarter worth $213,000. Dynamic Technology Lab Private Ltd bought a new stake in Fomento Economico Mexicano SAB during the third quarter worth $268,000. Teacher Retirement System of Texas bought a new stake in Fomento Economico Mexicano SAB during the third quarter worth $303,000. Finally, First Trust Advisors LP bought a new stake in Fomento Economico Mexicano SAB during the fourth quarter worth $306,000. Institutional investors and hedge funds own 20.37% of the company’s stock.
FMX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. ValuEngine upgraded Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Finally, Credit Suisse Group lowered Fomento Economico Mexicano SAB from an “outperform” rating to a “neutral” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $114.40.
Shares of Fomento Economico Mexicano SAB (NYSE:FMX) opened at $93.92 on Friday. The stock has a market capitalization of $33,606.73, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.61 and a beta of 0.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.88 and a quick ratio of 1.55. Fomento Economico Mexicano SAB has a one year low of $80.39 and a one year high of $103.82.
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About Fomento Economico Mexicano SAB
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.
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