O Shaughnessy Asset Management LLC Reduces Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

O Shaughnessy Asset Management LLC cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 46.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,093 shares of the company's stock after selling 15,047 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Fomento Económico Mexicano were worth $1,461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FMX. CIBC Private Wealth Group LLC increased its position in Fomento Económico Mexicano by 33.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 346,229 shares of the company's stock worth $29,024,000 after purchasing an additional 86,724 shares during the period. Schroder Investment Management Group lifted its stake in Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after acquiring an additional 717,666 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Fomento Económico Mexicano by 77.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company's stock worth $62,258,000 after purchasing an additional 317,887 shares during the last quarter. Sava Infond d.o.o. acquired a new position in shares of Fomento Económico Mexicano during the 4th quarter worth approximately $607,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after acquiring an additional 205,981 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Económico Mexicano Price Performance

FMX stock traded down $1.01 during mid-day trading on Thursday, hitting $96.67. 203,009 shares of the stock were exchanged, compared to its average volume of 632,898. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The business has a fifty day moving average price of $94.15 and a 200 day moving average price of $92.08. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $81.08 and a 12 month high of $127.94. The stock has a market capitalization of $34.59 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 5.26 and a beta of 0.68.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on FMX shares. The Goldman Sachs Group cut their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Itau BBA Securities raised Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday. UBS Group increased their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, March 14th. Finally, Barclays raised their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.95.

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.