Deltec Asset Management LLC boosted its stake in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 833.3% during the second quarter, Holdings Channel reports. The fund owned 28,000 shares of the company’s stock after buying an additional 25,000 shares during the period. Deltec Asset Management LLC’s holdings in Fomento Economico Mexicano SAB were worth $2,590,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Seven Eight Capital LLC boosted its stake in shares of Fomento Economico Mexicano SAB by 133.3% in the first quarter. Seven Eight Capital LLC now owns 2,100 shares of the company’s stock valued at $202,000 after buying an additional 1,200 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Fomento Economico Mexicano SAB by 14.6% in the second quarter. Daiwa Securities Group Inc. now owns 2,350 shares of the company’s stock valued at $217,000 after buying an additional 300 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Fomento Economico Mexicano SAB by 18.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,930 shares of the company’s stock valued at $282,000 after buying an additional 464 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Fomento Economico Mexicano SAB by 0.6% in the first quarter. M&T Bank Corp now owns 3,811 shares of the company’s stock valued at $367,000 after buying an additional 21 shares during the last quarter. Finally, Hexavest Inc. boosted its stake in shares of Fomento Economico Mexicano SAB by 3.2% in the second quarter. Hexavest Inc. now owns 11,319 shares of the company’s stock valued at $1,047,000 after buying an additional 353 shares during the last quarter. 20.25% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano SAB (NYSE:FMX) traded up 1.90% during midday trading on Tuesday, hitting $87.51. 669,298 shares of the stock traded hands. The company has a market cap of $31.31 billion, a price-to-earnings ratio of 32.29 and a beta of 0.75. The firm’s 50-day moving average is $92.69 and its 200-day moving average is $92.00. Fomento Economico Mexicano SAB has a 52-week low of $83.01 and a 52-week high of $102.72.

Fomento Economico Mexicano SAB (NYSE:FMX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.12. Fomento Economico Mexicano SAB had a net margin of 5.61% and a return on equity of 8.08%. Analysts predict that Fomento Economico Mexicano SAB will post $3.07 EPS for the current year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Barclays PLC reissued a “buy” rating and set a $110.00 price target on shares of Fomento Economico Mexicano SAB in a research report on Tuesday, July 19th. Finally, HSBC raised shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Fomento Economico Mexicano SAB currently has an average rating of “Buy” and a consensus target price of $107.75.

Fomento Economico Mexicano SAB Company Profile

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

5 Day Chart for NYSE:FMX

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