APG Asset Management N.V. Decreases Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

APG Asset Management N.V. lessened its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 83.9% during the 2nd quarter, Holdings Channel reports. The firm owned 15,254 shares of the company’s stock after selling 79,506 shares during the quarter. APG Asset Management N.V.’s holdings in Fomento Económico Mexicano were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Park Place Capital Corp lifted its stake in shares of Fomento Económico Mexicano by 78.2% during the first quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the period. Mather Group LLC. purchased a new position in Fomento Económico Mexicano in the 1st quarter worth $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano during the 2nd quarter worth about $51,000. Parallel Advisors LLC grew its stake in Fomento Económico Mexicano by 22.1% during the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock valued at $97,000 after purchasing an additional 134 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Fomento Económico Mexicano by 28.7% in the second quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the period.

Fomento Económico Mexicano Stock Down 0.7 %

Shares of FMX opened at $98.69 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $98.58 and a 12 month high of $143.43. The firm has a market cap of $35.31 billion, a P/E ratio of 26.75, a PEG ratio of 5.75 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $105.98 and its two-hundred day moving average is $113.52.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. The firm had revenue of $11.54 billion for the quarter. Analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FMX shares. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, Barclays dropped their price objective on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano has an average rating of “Hold” and an average price target of $133.40.

Fomento Económico Mexicano 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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.