First Republic Investment Management Inc. Boosts Stock Position in Fomento Economico Mexicano SAB (NYSE:FMX)

First Republic Investment Management Inc. lifted its stake in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 62.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,217 shares of the company’s stock after buying an additional 1,997 shares during the quarter. First Republic Investment Management Inc.’s holdings in Fomento Economico Mexicano SAB were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Axiom International Investors LLC DE lifted its position in Fomento Economico Mexicano SAB by 4.6% during the second quarter. Axiom International Investors LLC DE now owns 706,595 shares of the company’s stock valued at $68,363,000 after purchasing an additional 30,815 shares during the period. Sloane Robinson LLP purchased a new stake in shares of Fomento Economico Mexicano SAB in the second quarter worth $8,688,000. Avestar Capital LLC increased its stake in shares of Fomento Economico Mexicano SAB by 75.0% in the second quarter. Avestar Capital LLC now owns 1,227 shares of the company’s stock worth $99,000 after purchasing an additional 526 shares in the last quarter. Comerica Bank increased its stake in shares of Fomento Economico Mexicano SAB by 1.8% in the second quarter. Comerica Bank now owns 14,602 shares of the company’s stock worth $1,393,000 after purchasing an additional 256 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Fomento Economico Mexicano SAB by 36.2% in the second quarter. Envestnet Asset Management Inc. now owns 84,140 shares of the company’s stock worth $8,141,000 after purchasing an additional 22,369 shares in the last quarter. Institutional investors own 21.21% of the company’s stock.

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

FMX traded up $0.71 on Friday, reaching $93.61. 480,944 shares of the company traded hands, compared to its average volume of 336,664. The company has a quick ratio of 1.10, a current ratio of 1.40 and a debt-to-equity ratio of 0.43. Fomento Economico Mexicano SAB has a one year low of $80.86 and a one year high of $100.35. The firm has a fifty day simple moving average of $89.89 and a two-hundred day simple moving average of $93.83. The company has a market cap of $33.26 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62.

Fomento Economico Mexicano SAB (NYSE:FMX) last posted its earnings results on Thursday, July 25th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $6.71 billion during the quarter. Fomento Economico Mexicano SAB had a net margin of 4.72% and a return on equity of 6.88%. On average, equities analysts forecast that Fomento Economico Mexicano SAB will post 3.69 earnings per share for the current year.

Fomento Economico Mexicano SAB 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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

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

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