CGOV Asset Management raised its holdings in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 675,847 shares of the company’s stock after acquiring an additional 106,430 shares during the quarter. Fomento Economico Mexicano SAB comprises approximately 3.0% of CGOV Asset Management’s portfolio, making the stock its 17th biggest holding. CGOV Asset Management’s holdings in Fomento Economico Mexicano SAB were worth $79,439,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP increased its holdings in shares of Fomento Economico Mexicano SAB by 453.3% in the third quarter. Quantbot Technologies LP now owns 1,101 shares of the company’s stock worth $105,000 after purchasing an additional 902 shares during the period. Permit Capital LLC increased its holdings in shares of Fomento Economico Mexicano SAB by 12.8% in the second quarter. Permit Capital LLC now owns 1,100 shares of the company’s stock worth $109,000 after purchasing an additional 125 shares during the period. OxFORD Asset Management LLP bought a new position in shares of Fomento Economico Mexicano SAB in the second quarter worth $201,000. Laurel Wealth Advisors Inc. bought a new position in shares of Fomento Economico Mexicano SAB in the second quarter worth $202,000. Finally, Quantum Capital Management bought a new position in shares of Fomento Economico Mexicano SAB in the second quarter worth $206,000. 21.23% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on FMX. Zacks Investment Research raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Thursday, September 14th. JPMorgan Chase & Co. raised shares of Fomento Economico Mexicano SAB from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $98.00 to $117.00 in a report on Monday, October 2nd. Morgan Stanley began coverage on shares of Fomento Economico Mexicano SAB in a report on Thursday, September 14th. They issued an “overweight” rating and a $120.00 price target on the stock. ValuEngine raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Finally, Barclays decreased their price target on shares of Fomento Economico Mexicano SAB from $115.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $114.40.

Shares of Fomento Economico Mexicano SAB (NYSE:FMX) traded down $2.63 during trading hours on Thursday, reaching $93.48. 464,200 shares of the company traded hands, compared to its average volume of 359,614. Fomento Economico Mexicano SAB has a one year low of $73.85 and a one year high of $103.82. The stock has a market capitalization of $31,870.00, a price-to-earnings ratio of 13.97, a PEG ratio of 1.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.88 and a quick ratio of 1.55.

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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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Institutional Ownership by Quarter for Fomento Economico Mexicano SAB (NYSE:FMX)

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