Fifth Third Bancorp Decreases Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Fifth Third Bancorp cut its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMXFree Report) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,508 shares of the company’s stock after selling 8,312 shares during the period. Fifth Third Bancorp’s holdings in Fomento Económico Mexicano were worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Caprock Group LLC increased its holdings in Fomento Económico Mexicano by 8.2% in the fourth quarter. Caprock Group LLC now owns 4,010 shares of the company’s stock valued at $523,000 after buying an additional 303 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Fomento Económico Mexicano by 4.0% in the 4th quarter. Blue Trust Inc. now owns 2,855 shares of the company’s stock valued at $372,000 after acquiring an additional 109 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of Fomento Económico Mexicano by 33.3% during the 4th quarter. Ritholtz Wealth Management now owns 11,858 shares of the company’s stock worth $1,546,000 after acquiring an additional 2,965 shares in the last quarter. Northcape Capital Pty Ltd lifted its stake in Fomento Económico Mexicano by 3.8% during the fourth quarter. Northcape Capital Pty Ltd now owns 187,015 shares of the company’s stock worth $24,377,000 after purchasing an additional 6,786 shares during the last quarter. Finally, Wealthstar Advisors LLC boosted its holdings in Fomento Económico Mexicano by 60.0% in the fourth quarter. Wealthstar Advisors LLC now owns 7,245 shares of the company’s stock valued at $944,000 after purchasing an additional 2,718 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on FMX. UBS Group cut shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup initiated coverage on Fomento Económico Mexicano in a report on Thursday, December 7th. They set a “neutral” rating and a $134.00 price objective on the stock. Bank of America reissued a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. Finally, HSBC raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating and upped their target price for the company from $124.00 to $152.00 in a research report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $135.75.

Get Our Latest Research Report on Fomento Económico Mexicano

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock opened at $129.67 on Tuesday. The company’s fifty day moving average is $131.06 and its two-hundred day moving average is $123.56. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $91.71 and a 1 year high of $143.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.60.

Fomento Económico Mexicano (NYSE:FMXGet Free Report) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.07 earnings per share (EPS) for the quarter. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.21 billion. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. As a group, sell-side analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 earnings per share for the current fiscal year.

About Fomento Económico Mexicano

(Free Report)

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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