Fomento Economico Mexicano S.A.B. de C.V. (FMX) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co lowered its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 56.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,460 shares of the company’s stock after selling 3,182 shares during the period. Paloma Partners Management Co’s holdings in Fomento Economico Mexicano S.A.B. de C.V. were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FMX. BlackRock Inc. acquired a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth $118,653,000. Schroder Investment Management Group boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 302.3% in the first quarter. Schroder Investment Management Group now owns 1,402,999 shares of the company’s stock worth $127,013,000 after buying an additional 1,054,253 shares during the last quarter. FIL Ltd boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 15.2% in the first quarter. FIL Ltd now owns 2,346,144 shares of the company’s stock worth $207,680,000 after buying an additional 309,600 shares during the last quarter. Sustainable Growth Advisers LP boosted its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 70.4% in the first quarter. Sustainable Growth Advisers LP now owns 562,912 shares of the company’s stock worth $49,829,000 after buying an additional 232,525 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth approximately $20,045,000. Hedge funds and other institutional investors own 23.83% of the company’s stock.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) traded up 0.67% during trading on Friday, reaching $101.01. 264,788 shares of the company were exchanged. The firm has a 50-day moving average of $100.23 and a 200-day moving average of $92.06. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 30.15 and a beta of 0.57. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $73.45 and a 52-week high of $103.82.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.11. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. On average, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post $3.44 EPS for the current year.

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FMX has been the subject of a number of recent analyst reports. Barclays PLC decreased their price objective on shares of Fomento Economico Mexicano S.A.B. de C.V. from $106.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, May 1st. Citigroup Inc. lowered shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 13th. BidaskClub raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Friday, July 14th. Finally, Gabelli initiated coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research note on Monday, July 17th. They issued a “buy” rating and a $112.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Fomento Economico Mexicano S.A.B. de C.V. has a consensus rating of “Buy” and an average price target of $105.67.

About Fomento Economico Mexicano S.A.B. de C.V.

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.

Institutional Ownership by Quarter for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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