Hexavest Inc. Lowers Stock Position in Fomento Economico Mexicano SAB (NYSE:FMX)

Share on StockTwits

Hexavest Inc. reduced its stake in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 70.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,034 shares of the company’s stock after selling 4,947 shares during the period. Hexavest Inc.’s holdings in Fomento Economico Mexicano SAB were worth $186,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FMX. USS Investment Management Ltd lifted its position in shares of Fomento Economico Mexicano SAB by 9.6% during the 1st quarter. USS Investment Management Ltd now owns 514,082 shares of the company’s stock valued at $47,429,000 after buying an additional 45,000 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Fomento Economico Mexicano SAB by 12.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 61,771 shares of the company’s stock valued at $5,700,000 after buying an additional 6,695 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fomento Economico Mexicano SAB during the 1st quarter valued at about $387,000. GQG Partners LLC lifted its position in shares of Fomento Economico Mexicano SAB by 2.1% during the 1st quarter. GQG Partners LLC now owns 1,035,444 shares of the company’s stock valued at $95,376,000 after buying an additional 21,758 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Fomento Economico Mexicano SAB during the 1st quarter valued at about $36,000. 20.21% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FMX opened at $91.60 on Friday. The stock’s 50 day moving average is $92.02 and its 200 day moving average is $94.29. The company has a current ratio of 1.40, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Fomento Economico Mexicano SAB has a 12 month low of $80.86 and a 12 month high of $100.35. The stock has a market cap of $32.78 billion, a PE ratio of 26.55, a P/E/G ratio of 1.59 and a beta of 0.61.

Fomento Economico Mexicano SAB (NYSE:FMX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Fomento Economico Mexicano SAB had a return on equity of 6.88% and a net margin of 4.72%. The company had revenue of $6.71 billion for the quarter. On average, analysts forecast that Fomento Economico Mexicano SAB will post 3.68 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. ValuEngine cut Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Scotiabank cut Fomento Economico Mexicano SAB from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $100.00.

Fomento Economico Mexicano SAB Profile

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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

See Also: What are some reasons analysts would give stocks a buy rating?

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

Receive News & Ratings for Fomento Economico Mexicano SAB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fomento Economico Mexicano SAB and related companies with MarketBeat.com's FREE daily email newsletter.