State of New Jersey Common Pension Fund D boosted its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 16.1% during the second quarter, Holdings Channel reports. The institutional investor owned 173,170 shares of the company’s stock after buying an additional 24,068 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fomento Economico Mexicano S.A.B. de C.V. were worth $17,030,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. increased its stake in Fomento Economico Mexicano S.A.B. de C.V. by 288.4% in the first quarter. Howe & Rusling Inc. now owns 1,301 shares of the company’s stock worth $115,000 after buying an additional 966 shares in the last quarter. ING Groep NV purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth about $211,000. Creative Planning increased its stake in Fomento Economico Mexicano S.A.B. de C.V. by 658.7% in the first quarter. Creative Planning now owns 2,534 shares of the company’s stock worth $224,000 after buying an additional 2,200 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth about $239,000. Finally, First Trust Advisors LP purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth about $240,000. Institutional investors and hedge funds own 23.85% of the company’s stock.

Fomento Economico Mexicano S.A.B. de C.V. (FMX) opened at 99.71 on Tuesday. The company’s 50 day moving average price is $98.91 and its 200-day moving average price is $90.15. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $73.45 and a 52 week high of $103.82. The company has a market capitalization of $35.68 billion, a P/E ratio of 28.99 and a beta of 0.57.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.83 by $0.11. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a net margin of 5.26% and a return on equity of 8.42%. Equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.43 earnings per share for the current year.

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A number of research firms have issued reports on FMX. Zacks Investment Research upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Friday. BidaskClub upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Gabelli started coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research note on Monday, July 17th. They set a “buy” rating and a $112.00 price objective for the company. Citigroup Inc. downgraded Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 13th. Finally, Barclays PLC cut their price objective on Fomento Economico Mexicano S.A.B. de C.V. from $106.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, May 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $105.33.

About Fomento Economico Mexicano S.A.B. de C.V.

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.

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 S.A.B. de C.V. (NYSE:FMX).

Institutional Ownership by Quarter for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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