Renaissance Group LLC Sells 10,223 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Renaissance Group LLC decreased its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,472 shares of the company's stock after selling 10,223 shares during the period. Renaissance Group LLC's holdings in Fomento Económico Mexicano were worth $3,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC purchased a new stake in shares of Fomento Económico Mexicano during the 4th quarter valued at $225,000. Sarasin & Partners LLP raised its position in Fomento Económico Mexicano by 33.3% during the fourth quarter. Sarasin & Partners LLP now owns 20,000 shares of the company's stock valued at $1,710,000 after purchasing an additional 5,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Fomento Económico Mexicano by 141.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company's stock worth $11,541,000 after purchasing an additional 79,181 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Fomento Económico Mexicano by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock worth $1,232,000 after purchasing an additional 149 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company's stock valued at $21,389,000 after buying an additional 4,674 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Trading Up 0.8 %

FMX traded up $0.74 during trading on Monday, hitting $99.17. 166,673 shares of the stock traded hands, compared to its average volume of 546,577. The firm has a market capitalization of $35.48 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $124.80. 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 firm has a 50-day moving average of $94.63 and a 200 day moving average of $91.97.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted 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 return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.99 billion for the quarter, compared to analysts' expectations of $201.67 billion. Equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Wall Street Analysts Forecast Growth

FMX has been the subject of several research reports. 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 note on Tuesday, January 28th. Barclays upped their price objective on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group lifted their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. Finally, Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.95.

About Fomento Económico Mexicano

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.