Advisors Asset Management Inc. lowered its position in Fomento Economico Mexicano SAB (NYSE:FMX) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,856 shares of the company’s stock after selling 374 shares during the period. Advisors Asset Management Inc.’s holdings in Fomento Economico Mexicano SAB were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FMX. Norges Bank purchased a new position in Fomento Economico Mexicano SAB during the fourth quarter worth approximately $98,140,000. Acadian Asset Management LLC boosted its position in Fomento Economico Mexicano SAB by 41.6% in the first quarter. Acadian Asset Management LLC now owns 149,624 shares of the company’s stock worth $14,411,000 after buying an additional 43,963 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Fomento Economico Mexicano SAB during the first quarter worth approximately $3,271,000. Mckinley Capital Management LLC Delaware boosted its position in Fomento Economico Mexicano SAB by 9.6% in the first quarter. Mckinley Capital Management LLC Delaware now owns 15,481 shares of the company’s stock worth $1,491,000 after buying an additional 1,361 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its position in Fomento Economico Mexicano SAB by 0.9% in the first quarter. Baker Ellis Asset Management LLC now owns 24,721 shares of the company’s stock worth $2,381,000 after buying an additional 220 shares in the last quarter. 20.25% of the stock is owned by hedge funds and other institutional investors.

Shares of Fomento Economico Mexicano SAB (NYSE:FMX) traded up 1.834% during midday trading on Tuesday, reaching $87.455. 458,100 shares of the company were exchanged. The firm has a 50-day moving average of $92.69 and a 200 day moving average of $92.00. The firm has a market capitalization of $31.29 billion, a P/E ratio of 32.271 and a beta of 0.75. 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 issued its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, missing the Zacks’ 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%. On average, equities research analysts expect that Fomento Economico Mexicano SAB will post $3.09 EPS for the current year.

FMX has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Barclays PLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Fomento Economico Mexicano SAB in a research note on Tuesday, July 19th. Finally, HSBC upgraded shares of Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average 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

Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano SAB (NYSE:FMX).

Receive News & Ratings for Fomento Economico Mexicano SAB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fomento Economico Mexicano SAB and related companies with MarketBeat.com's FREE daily email newsletter.