Fomento Economico Mexicano SAB (FMX) Shares Sold by Morgan Stanley

Morgan Stanley lowered its holdings in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,423,080 shares of the company’s stock after selling 428,263 shares during the quarter. Morgan Stanley’s holdings in Fomento Economico Mexicano SAB were worth $212,722,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in shares of Fomento Economico Mexicano SAB during the first quarter worth about $133,000. Engineers Gate Manager LP purchased a new stake in shares of Fomento Economico Mexicano SAB during the second quarter worth about $202,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Fomento Economico Mexicano SAB during the second quarter worth about $255,000. Stevens Capital Management LP purchased a new stake in shares of Fomento Economico Mexicano SAB during the second quarter worth about $393,000. Finally, Hartwell J M Limited Partnership grew its position in shares of Fomento Economico Mexicano SAB by 14.8% during the second quarter. Hartwell J M Limited Partnership now owns 5,050 shares of the company’s stock worth $443,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 20.02% of the company’s stock.

Several analysts recently issued reports on FMX shares. Gabelli reiterated a “buy” rating on shares of Fomento Economico Mexicano SAB in a research report on Monday, July 30th. Zacks Investment Research upgraded Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. ValuEngine upgraded Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Finally, JPMorgan Chase & Co. started coverage on Fomento Economico Mexicano SAB in a research report on Monday, August 6th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Fomento Economico Mexicano SAB presently has an average rating of “Buy” and an average price target of $113.33.

NYSE FMX opened at $97.84 on Friday. The company has a market cap of $33.97 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.61 and a beta of 0.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.49 and a quick ratio of 1.17. Fomento Economico Mexicano SAB has a 1-year low of $80.86 and a 1-year high of $101.12.

Fomento Economico Mexicano SAB (NYSE:FMX) last released its quarterly earnings results on Friday, July 27th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.27. The business had revenue of $6.45 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Fomento Economico Mexicano SAB had a return on equity of 13.91% and a net margin of 9.31%. research analysts forecast that Fomento Economico Mexicano SAB will post 3.73 EPS for the current fiscal year.

About Fomento Economico Mexicano SAB

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. The company produces, markets, distributes, and sells Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; and waters and still beverages comprising juice, coffee, tea, milk, value-added dairy, sports, energy, and plant-based drinks.

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

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