Bank of Montreal Can Has $2.98 Million Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Bank of Montreal Can lifted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,285 shares of the company’s stock after acquiring an additional 729 shares during the period. Bank of Montreal Can’s holdings in Fomento Económico Mexicano were worth $2,984,000 at the end of the most recent quarter.

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

Fomento Económico Mexicano Price Performance

NYSE FMX opened at $98.32 on Thursday. The firm’s 50 day moving average is $105.37 and its 200-day moving average is $113.21. 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 market capitalization of $35.18 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $97.90 and a 12-month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) 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. Equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FMX has been the topic of several recent analyst reports. Barclays cut their price objective on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Fomento Económico Mexicano has a consensus rating of “Hold” and a consensus target price of $133.40.

Fomento Económico Mexicano 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.