State Street Corp Trims Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

State Street Corp trimmed its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 34.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,037 shares of the company’s stock after selling 2,600 shares during the period. State Street Corp’s holdings in Fomento Económico Mexicano were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in Fomento Económico Mexicano in the third quarter worth $55,000. Van ECK Associates Corp increased its stake in shares of Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after acquiring an additional 306 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Fomento Económico Mexicano by 9.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after acquiring an additional 204 shares during the period. MQS Management LLC bought a new stake in Fomento Económico Mexicano during the third quarter worth about $369,000. Finally, Wealth Alliance grew its holdings in Fomento Económico Mexicano by 4.4% in the second quarter. Wealth Alliance now owns 3,510 shares of the company’s stock worth $378,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Barclays dropped their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Moderate Buy” and an average target price of $126.33.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $81.23 on Friday. The firm has a market cap of $29.06 billion, a P/E ratio of 20.83, a PEG ratio of 5.23 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $90.33 and a 200 day moving average of $100.47.

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.