Bank of America Corp DE lowered its stake in Fomento Economico Mexicano SAB (NYSE:FMX) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 554,327 shares of the company’s stock after selling 20,884 shares during the period. Bank of America Corp DE owned 0.15% of Fomento Economico Mexicano SAB worth $47,701,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wetherby Asset Management Inc. increased its stake in shares of Fomento Economico Mexicano SAB by 14.0% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,268 shares of the company’s stock worth $367,000 after acquiring an additional 524 shares during the period. Virtu Financial LLC increased its stake in shares of Fomento Economico Mexicano SAB by 57.2% in the third quarter. Virtu Financial LLC now owns 5,681 shares of the company’s stock worth $562,000 after acquiring an additional 2,066 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Fomento Economico Mexicano SAB in the fourth quarter worth $336,000. Axiom International Investors LLC DE increased its stake in shares of Fomento Economico Mexicano SAB by 37.4% in the third quarter. Axiom International Investors LLC DE now owns 634,794 shares of the company’s stock worth $62,826,000 after acquiring an additional 172,634 shares during the period. Finally, Marshall Wace North America L.P. grew its position in Fomento Economico Mexicano SAB by 825.2% during the third quarter. Marshall Wace North America L.P. now owns 40,847 shares of the company’s stock valued at $4,043,000 after buying an additional 36,432 shares during the period. 20.38% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on FMX. Santander lowered shares of Fomento Economico Mexicano SAB from a “hold” rating to an “underperform” rating in a research report on Monday, February 25th. ValuEngine lowered shares of Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Barclays restated a “buy” rating and set a $100.00 price target on shares of Fomento Economico Mexicano SAB in a research report on Thursday, January 24th. Finally, Zacks Investment Research lowered shares of Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Fomento Economico Mexicano SAB presently has a consensus rating of “Hold” and an average price target of $100.00.

FMX stock opened at $91.86 on Thursday. The firm has a market cap of $33.08 billion, a P/E ratio of 26.63, a PEG ratio of 1.49 and a beta of 0.63. The company has a current ratio of 1.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. Fomento Economico Mexicano SAB has a one year low of $80.86 and a one year high of $101.12.

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Fomento Economico Mexicano SAB Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. The company produces, markets, distributes, and sells Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; and waters and still beverages comprising juice, coffee, tea, milk, value-added dairy, sports, energy, and plant-based drinks.

See Also: Balanced Fund

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

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