Confluence Investment Management LLC Has $235,000 Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Confluence Investment Management LLC grew its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXGet Rating) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,487 shares of the company’s stock after purchasing an additional 582 shares during the quarter. Confluence Investment Management LLC’s holdings in Fomento Económico Mexicano were worth $235,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Fomento Económico Mexicano by 438.8% during the 1st quarter. Bank of America Corp DE now owns 655,613 shares of the company’s stock worth $54,317,000 after purchasing an additional 533,936 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Fomento Económico Mexicano by 1.7% during the 1st quarter. Neuberger Berman Group LLC now owns 25,511 shares of the company’s stock worth $2,114,000 after acquiring an additional 428 shares during the last quarter. O Brien Greene & Co. Inc increased its holdings in shares of Fomento Económico Mexicano by 19.6% during the 1st quarter. O Brien Greene & Co. Inc now owns 5,489 shares of the company’s stock worth $455,000 after acquiring an additional 900 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Fomento Económico Mexicano during the 1st quarter worth approximately $3,687,000. Finally, Mirabella Financial Services LLP acquired a new position in shares of Fomento Económico Mexicano during the 1st quarter worth approximately $1,814,000. Institutional investors and hedge funds own 19.15% of the company’s stock.

Wall Street Analyst Weigh In

FMX has been the subject of several recent research reports. Barclays reduced their price target on Fomento Económico Mexicano from $92.00 to $78.00 in a research note on Friday, July 29th. FIG Partners upgraded Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Wednesday, June 1st. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Bradesco Corretora upgraded Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Wednesday, June 1st. Finally, The Goldman Sachs Group cut their target price on Fomento Económico Mexicano from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.71.

Fomento Económico Mexicano Trading Down 0.7 %

Shares of FMX stock opened at $65.33 on Friday. The stock has a market cap of $23.38 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.52 and a beta of 0.92. The stock has a 50-day moving average of $63.14 and a 200-day moving average of $70.73. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 0.59. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $58.73 and a 1-year high of $89.43.

Fomento Económico Mexicano Profile

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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.

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

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