BlackRock Inc. reduced its position in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 970,619 shares of the company’s stock after selling 29,538 shares during the period. BlackRock Inc. owned approximately 0.27% of Fomento Economico Mexicano SAB worth $88,745,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Glovista Investments LLC acquired a new position in Fomento Economico Mexicano SAB during the fourth quarter worth about $3,243,000. Employees Retirement System of Texas acquired a new position in Fomento Economico Mexicano SAB during the fourth quarter worth about $314,000. Amundi Pioneer Asset Management Inc. acquired a new position in Fomento Economico Mexicano SAB during the fourth quarter worth about $30,738,000. Teacher Retirement System of Texas grew its holdings in Fomento Economico Mexicano SAB by 231.2% during the fourth quarter. Teacher Retirement System of Texas now owns 10,500 shares of the company’s stock worth $986,000 after acquiring an additional 7,330 shares during the period. Finally, USA Financial Portformulas Corp acquired a new position in Fomento Economico Mexicano SAB during the fourth quarter worth about $311,000. 19.66% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on FMX. ValuEngine raised Fomento Economico Mexicano SAB from a “strong sell” rating to a “sell” rating in a report on Thursday. Zacks Investment Research cut Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $114.40.

Shares of Fomento Economico Mexicano SAB opened at $87.79 on Monday, according to Marketbeat.com. The stock has a market capitalization of $31.41 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.64 and a beta of 0.50. Fomento Economico Mexicano SAB has a 1-year low of $80.86 and a 1-year high of $103.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.46.

Fomento Economico Mexicano SAB (NYSE:FMX) last issued its quarterly earnings results on Thursday, April 26th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.33). The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Fomento Economico Mexicano SAB had a return on equity of 13.14% and a net margin of 8.57%. equities analysts forecast that Fomento Economico Mexicano SAB will post 3.83 EPS for the current year.

Fomento Economico Mexicano SAB Company 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.

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

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