Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 740.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 472,200 shares of the company's stock after buying an additional 416,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.13% of Fomento Económico Mexicano worth $50,832,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Hawk Ridge Capital Management LP acquired a new stake in Fomento Económico Mexicano during the 4th quarter valued at approximately $79,852,000. Baillie Gifford & Co. raised its holdings in Fomento Económico Mexicano by 9.0% in the first quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company's stock valued at $544,979,000 after acquiring an additional 344,815 shares in the last quarter. Vontobel Asset Management Inc. boosted its stake in Fomento Económico Mexicano by 1,253.3% during the 4th quarter. Vontobel Asset Management Inc. now owns 362,616 shares of the company's stock valued at $45,839,000 after acquiring an additional 335,822 shares during the last quarter. Sustainable Growth Advisers LP grew its holdings in Fomento Económico Mexicano by 122.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 435,906 shares of the company's stock worth $56,785,000 after acquiring an additional 240,256 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Fomento Económico Mexicano by 577.6% in the 2nd quarter. Millennium Management LLC now owns 222,464 shares of the company's stock worth $23,948,000 after purchasing an additional 189,632 shares during the last quarter.
Analysts Set New Price Targets
Several brokerages have recently commented on FMX. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. StockNews.com downgraded Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Monday, September 23rd. Finally, Barclays lowered their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $133.40.
Check Out Our Latest Research Report on Fomento Económico Mexicano
Fomento Económico Mexicano Stock Performance
FMX stock traded up $0.53 during midday trading on Thursday, reaching $98.85. The company had a trading volume of 546,989 shares, compared to its average volume of 690,073. The firm has a market capitalization of $35.37 billion, a PE ratio of 26.79, a P/E/G ratio of 5.75 and a beta of 0.94. The stock has a 50 day moving average price of $105.18 and a 200 day moving average price of $113.11. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $97.58 and a fifty-two week high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.
Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The business had revenue of $11.54 billion during the quarter. Analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current year.
About Fomento Económico Mexicano
(
Free Report)
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.
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