Gabelli Funds LLC Has $19.24 Million Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Gabelli Funds LLC decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,100 shares of the company’s stock after selling 1,600 shares during the period. Gabelli Funds LLC owned about 0.06% of Fomento Económico Mexicano worth $19,244,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FMX. Brooklyn Investment Group raised its stake in shares of Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. raised its stake in shares of Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after buying an additional 369 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Fomento Económico Mexicano during the 4th quarter worth about $51,000. Rosenberg Matthew Hamilton boosted its position in shares of Fomento Económico Mexicano by 30.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after acquiring an additional 176 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Fomento Económico Mexicano by 29.7% during the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after acquiring an additional 203 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group cut 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 note on Tuesday, January 28th. UBS Group raised their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research report on Monday, April 7th. Finally, Barclays increased their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Three investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Up 1.4 %

Shares of NYSE FMX opened at $101.59 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.08 and a 12-month high of $123.09. The firm’s 50-day simple moving average is $95.17 and its 200 day simple moving average is $92.04. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The company has a market cap of $36.35 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68.

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

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.