Pitcairn Co. acquired a new position in shares of Fomento Economico Mexicano SAB (NYSE:FMX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,009 shares of the company’s stock, valued at approximately $249,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. OLD Dominion Capital Management Inc. grew its holdings in shares of Fomento Economico Mexicano SAB by 2.8% during the first quarter. OLD Dominion Capital Management Inc. now owns 31,420 shares of the company’s stock worth $1,901,000 after purchasing an additional 850 shares in the last quarter. Confluence Investment Management LLC bought a new stake in Fomento Economico Mexicano SAB in the 2nd quarter worth approximately $212,000. Morgan Stanley lifted its position in Fomento Economico Mexicano SAB by 23.8% in the 1st quarter. Morgan Stanley now owns 604,262 shares of the company’s stock worth $36,564,000 after buying an additional 116,136 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in Fomento Economico Mexicano SAB by 81.8% in the 1st quarter. Deprince Race & Zollo Inc. now owns 32,700 shares of the company’s stock worth $1,979,000 after buying an additional 14,710 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Fomento Economico Mexicano SAB by 10.3% in the 1st quarter. Crossmark Global Holdings Inc. now owns 30,328 shares of the company’s stock worth $1,835,000 after buying an additional 2,844 shares during the last quarter. 18.76% of the stock is owned by institutional investors.
Shares of FMX stock opened at $61.51 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.48. Fomento Economico Mexicano SAB has a fifty-two week low of $55.40 and a fifty-two week high of $98.05. The stock has a 50 day moving average price of $61.84 and a two-hundred day moving average price of $71.18. The company has a market capitalization of $22.01 billion, a P/E ratio of 31.71, a PEG ratio of 6.09 and a beta of 0.79.
Fomento Economico Mexicano SAB (NYSE:FMX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $1.34. Fomento Economico Mexicano SAB had a return on equity of 4.65% and a net margin of 2.55%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.17 billion. As a group, equities analysts predict that Fomento Economico Mexicano SAB will post 2.13 earnings per share for the current year.
A number of research firms recently weighed in on FMX. Zacks Investment Research downgraded Fomento Economico Mexicano SAB from a “hold” rating to a “strong sell” rating and set a $66.00 target price for the company. in a research report on Tuesday, June 30th. Barclays restated a “buy” rating and issued a $70.00 target price on shares of Fomento Economico Mexicano SAB in a research report on Thursday, April 9th. Finally, Bank of America downgraded Fomento Economico Mexicano SAB from a “neutral” rating to an “underperform” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $82.67.
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. 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.
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