Fomento Economico Mexicano SAB (FMX) Stake Increased by Hexavest Inc.

Hexavest Inc. lifted its holdings in Fomento Economico Mexicano SAB (NYSE:FMX) by 269.5% in the third quarter, HoldingsChannel reports. The firm owned 19,068 shares of the company’s stock after buying an additional 13,907 shares during the period. Hexavest Inc.’s holdings in Fomento Economico Mexicano SAB were worth $1,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stevens Capital Management LP acquired a new stake in Fomento Economico Mexicano SAB during the 2nd quarter worth about $393,000. AGF Investments Inc. boosted its holdings in shares of Fomento Economico Mexicano SAB by 1.0% during the 2nd quarter. AGF Investments Inc. now owns 174,454 shares of the company’s stock worth $15,315,000 after purchasing an additional 1,808 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Fomento Economico Mexicano SAB by 57.4% during the 2nd quarter. ClariVest Asset Management LLC now owns 103,393 shares of the company’s stock worth $9,077,000 after purchasing an additional 37,700 shares during the last quarter. Cumberland Partners Ltd acquired a new position in shares of Fomento Economico Mexicano SAB during the 2nd quarter worth approximately $878,000. Finally, Zevin Asset Management LLC boosted its holdings in shares of Fomento Economico Mexicano SAB by 5.2% during the 2nd quarter. Zevin Asset Management LLC now owns 20,153 shares of the company’s stock worth $1,769,000 after purchasing an additional 994 shares during the last quarter. 19.83% of the stock is owned by institutional investors.

FMX has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on Fomento Economico Mexicano SAB in a report on Monday, August 6th. They set an “overweight” rating on the stock. Zacks Investment Research upgraded Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Gabelli restated a “buy” rating on shares of Fomento Economico Mexicano SAB in a report on Monday, July 30th. UBS Group upgraded Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a report on Monday, October 1st. Finally, ValuEngine upgraded Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Fomento Economico Mexicano SAB presently has an average rating of “Buy”.

FMX opened at $95.48 on Friday. Fomento Economico Mexicano SAB has a one year low of $80.86 and a one year high of $101.12. The company has a market capitalization of $35.41 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.68 and a beta of 0.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.49.

Fomento Economico Mexicano SAB (NYSE:FMX) last released its quarterly earnings data on Friday, July 27th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.27. Fomento Economico Mexicano SAB had a return on equity of 13.91% and a net margin of 9.31%. The firm had revenue of $6.45 billion for the quarter, compared to analysts’ expectations of $6.36 billion. As a group, analysts anticipate that Fomento Economico Mexicano SAB will post 3.73 EPS for the current year.

Fomento Economico Mexicano SAB 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.

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

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