YorkBridge Wealth Partners LLC Buys 3,061 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

YorkBridge Wealth Partners LLC increased its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXGet Rating) by 59.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,179 shares of the company’s stock after purchasing an additional 3,061 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Fomento Económico Mexicano were worth $552,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FMX. Harding Loevner LP boosted its holdings in Fomento Económico Mexicano by 17.8% during the 1st quarter. Harding Loevner LP now owns 9,816,327 shares of the company’s stock valued at $702,332,000 after acquiring an additional 1,481,847 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in shares of Fomento Económico Mexicano by 428.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,285,157 shares of the company’s stock worth $96,962,000 after buying an additional 1,041,809 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Fomento Económico Mexicano by 39.7% in the 4th quarter. Schroder Investment Management Group now owns 2,974,939 shares of the company’s stock worth $23,119,000 after buying an additional 845,723 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Fomento Económico Mexicano by 54.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,611,679 shares of the company’s stock worth $125,244,000 after buying an additional 566,052 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Fomento Económico Mexicano by 438.8% in the 1st quarter. Bank of America Corp DE now owns 655,613 shares of the company’s stock worth $54,317,000 after buying an additional 533,936 shares during the period. Institutional investors own 19.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Fomento Económico Mexicano from $104.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Barclays decreased their price objective on Fomento Económico Mexicano from $92.00 to $78.00 in a research note on Friday, July 29th. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Bradesco Corretora raised Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Wednesday, June 1st. Finally, FIG Partners raised Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.71.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $63.52 on Friday. The company has a market capitalization of $22.73 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.46 and a beta of 0.92. The business’s 50 day moving average is $63.47 and its two-hundred day moving average is $70.37. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 0.59. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $58.73 and a 12-month high of $89.06.

Fomento Económico Mexicano Profile

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

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