Fmr LLC Has $269.08 Million Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Fmr LLC boosted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 540.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,147,544 shares of the company’s stock after buying an additional 2,655,962 shares during the quarter. Fmr LLC owned approximately 0.88% of Fomento Económico Mexicano worth $269,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Fomento Económico Mexicano by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company’s stock valued at $2,405,000 after buying an additional 4,096 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of Fomento Económico Mexicano by 3.7% during the 4th quarter. Pitcairn Co. now owns 12,441 shares of the company’s stock valued at $1,064,000 after acquiring an additional 447 shares in the last quarter. Franklin Resources Inc. grew its position in Fomento Económico Mexicano by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company’s stock worth $266,000 after acquiring an additional 125 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in Fomento Económico Mexicano by 7.1% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 83,264 shares of the company’s stock worth $7,118,000 after purchasing an additional 5,544 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Fomento Económico Mexicano by 33.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 346,229 shares of the company’s stock valued at $29,024,000 after purchasing an additional 86,724 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FMX shares. UBS Group boosted their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. The Goldman Sachs Group decreased their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. Finally, Barclays increased their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.95.

Fomento Económico Mexicano Stock Up 1.8 %

Shares of NYSE FMX opened at $98.44 on Friday. The company’s 50 day moving average price is $94.63 and its 200-day moving average price is $92.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $125.27. The company has a market capitalization of $35.22 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. Equities analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

About Fomento Económico Mexicano

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.