Capital World Investors acquired a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 480,522 shares of the company’s stock, valued at approximately $47,255,000. Capital World Investors owned 0.13% of Fomento Economico Mexicano S.A.B. de C.V. at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. in the 1st quarter worth about $240,000. Stifel Financial Corp raised its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 20.1% in the 1st quarter. Stifel Financial Corp now owns 3,292 shares of the company’s stock worth $293,000 after purchasing an additional 550 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. in the 1st quarter worth about $239,000. Wellington Management Group LLP purchased a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. in the 1st quarter worth about $20,045,000. Finally, Legal & General Group Plc raised its position in shares of Fomento Economico Mexicano S.A.B. de C.V. by 282.2% in the 1st quarter. Legal & General Group Plc now owns 10,564 shares of the company’s stock worth $936,000 after purchasing an additional 7,800 shares during the last quarter. 21.62% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on FMX shares. Morgan Stanley started coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Thursday, September 14th. They issued an “overweight” rating and a $120.00 price target for the company. Zacks Investment Research raised Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a research report on Wednesday, September 6th. BidaskClub raised Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Gabelli started coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They issued a “buy” rating and a $112.00 price target for the company. Finally, J P Morgan Chase & Co raised Fomento Economico Mexicano S.A.B. de C.V. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $98.00 to $117.00 in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fomento Economico Mexicano S.A.B. de C.V. presently has a consensus rating of “Buy” and an average target price of $110.00.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) opened at 94.60 on Friday. The stock has a market cap of $33.85 billion, a price-to-earnings ratio of 27.91 and a beta of 0.55. The stock has a 50 day moving average price of $98.46 and a 200 day moving average price of $95.96. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $73.45 and a 52-week high of $103.82.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). Fomento Economico Mexicano S.A.B. de C.V. had a net margin of 5.26% and a return on equity of 8.42%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.49 billion. Analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.45 EPS for the current fiscal year.

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Fomento Economico Mexicano S.A.B. de C.V. Company Profile

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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Institutional Ownership by Quarter for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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