A.R.T. Advisors LLC Acquires 7,800 Shares of Fomento Economico Mexicano SAB (NYSE:FMX)

A.R.T. Advisors LLC grew its position in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 137.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,470 shares of the company’s stock after purchasing an additional 7,800 shares during the period. A.R.T. Advisors LLC’s holdings in Fomento Economico Mexicano SAB were worth $1,303,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new stake in shares of Fomento Economico Mexicano SAB during the second quarter worth approximately $39,000. BlackRock Inc. grew its position in shares of Fomento Economico Mexicano SAB by 0.3% during the second quarter. BlackRock Inc. now owns 1,659,253 shares of the company’s stock worth $160,532,000 after buying an additional 4,619 shares in the last quarter. US Bancorp DE boosted its holdings in Fomento Economico Mexicano SAB by 36.0% in the second quarter. US Bancorp DE now owns 55,354 shares of the company’s stock worth $5,356,000 after purchasing an additional 14,654 shares during the period. Virtus ETF Advisers LLC acquired a new position in Fomento Economico Mexicano SAB in the second quarter worth $84,000. Finally, ETRADE Capital Management LLC boosted its holdings in Fomento Economico Mexicano SAB by 39.3% in the second quarter. ETRADE Capital Management LLC now owns 4,840 shares of the company’s stock worth $468,000 after purchasing an additional 1,365 shares during the period. 20.21% of the stock is owned by institutional investors and hedge funds.

FMX traded up $0.33 during trading on Friday, reaching $91.60. The company had a trading volume of 396,064 shares, compared to its average volume of 381,784. The firm’s 50-day simple moving average is $92.02 and its 200 day simple moving average is $94.29. The company has a market cap of $32.78 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.59 and a beta of 0.61. Fomento Economico Mexicano SAB has a 12-month low of $80.86 and a 12-month high of $100.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 1.40.

Fomento Economico Mexicano SAB (NYSE:FMX) last released its earnings results on Thursday, July 25th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Fomento Economico Mexicano SAB had a return on equity of 6.88% and a net margin of 4.72%. The company had revenue of $6.71 billion for the quarter. On average, sell-side analysts expect that Fomento Economico Mexicano SAB will post 3.68 EPS for the current year.

FMX has been the subject of a number of research reports. ValuEngine downgraded shares of Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Scotiabank downgraded shares of Fomento Economico Mexicano SAB from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Fomento Economico Mexicano SAB presently has an average rating of “Hold” and a consensus price target of $100.00.

Fomento Economico Mexicano SAB Company 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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