Millennium Management LLC Increases Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Millennium Management LLC boosted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 577.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,464 shares of the company’s stock after acquiring an additional 189,632 shares during the quarter. Millennium Management LLC owned 0.06% of Fomento Económico Mexicano worth $23,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Marathon Capital Management acquired a new position in shares of Fomento Económico Mexicano in the 2nd quarter valued at about $3,713,000. Employees Retirement System of Texas lifted its position in Fomento Económico Mexicano by 64.1% during the second quarter. Employees Retirement System of Texas now owns 471,096 shares of the company’s stock valued at $50,713,000 after buying an additional 184,000 shares in the last quarter. Marshall Wace LLP grew its stake in Fomento Económico Mexicano by 157.5% during the second quarter. Marshall Wace LLP now owns 44,036 shares of the company’s stock worth $4,740,000 after buying an additional 26,934 shares during the period. Bank of Montreal Can increased its position in shares of Fomento Económico Mexicano by 2.7% in the second quarter. Bank of Montreal Can now owns 27,285 shares of the company’s stock worth $2,984,000 after acquiring an additional 729 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Fomento Económico Mexicano in the 2nd quarter valued at $489,000.

Wall Street Analyst Weigh In

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

Fomento Económico Mexicano Trading Up 0.5 %

NYSE:FMX opened at $98.85 on Friday. The stock has a market cap of $35.37 billion, a price-to-earnings ratio of 26.79, 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 one year low of $97.58 and a one year high of $143.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The business’s 50-day simple moving average is $105.18 and its 200 day simple moving average is $113.11.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The company had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, sell-side analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 earnings per share for the current fiscal year.

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.