Nkcfo LLC Acquires Shares of 300 Fomento Economico Mexicano SAB (NYSE:FMX)

Nkcfo LLC acquired a new stake 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 SEC. The institutional investor acquired 300 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FMX. Bank of New York Mellon Corp boosted its holdings in shares of Fomento Economico Mexicano SAB by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 7,048 shares of the company’s stock valued at $607,000 after purchasing an additional 250 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Fomento Economico Mexicano SAB by 73.5% during the 4th quarter. Stifel Financial Corp now owns 3,901 shares of the company’s stock valued at $331,000 after purchasing an additional 1,653 shares during the last quarter. Norges Bank bought a new position in shares of Fomento Economico Mexicano SAB during the 4th quarter valued at about $7,602,000. Deutsche Bank AG boosted its holdings in shares of Fomento Economico Mexicano SAB by 20.1% during the 4th quarter. Deutsche Bank AG now owns 105,698 shares of the company’s stock valued at $9,093,000 after purchasing an additional 17,699 shares during the last quarter. Finally, USS Investment Management Ltd raised its position in shares of Fomento Economico Mexicano SAB by 9.6% during the 1st quarter. USS Investment Management Ltd now owns 514,082 shares of the company’s stock valued at $47,429,000 after buying an additional 45,000 shares in the last quarter. 20.46% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE FMX traded down $1.07 during mid-day trading on Tuesday, hitting $86.99. 53,658 shares of the company’s stock traded hands, compared to its average volume of 339,659. The business has a 50-day moving average of $93.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.40 and a quick ratio of 1.10. The company has a market capitalization of $31.54 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.54 and a beta of 0.64. Fomento Economico Mexicano SAB has a 1 year low of $80.86 and a 1 year high of $100.35.

Separately, ValuEngine cut shares of Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $100.00.

About Fomento Economico Mexicano SAB

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.

Further Reading: What is the return on assets (ROA) ratio?

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

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