Millennium Management LLC Lowers Stock Holdings in Fomento Economico Mexicano SAB (NYSE:FMX)

Millennium Management LLC trimmed its holdings in shares of Fomento Economico Mexicano SAB (NYSE:FMX) by 23.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 177,347 shares of the company’s stock after selling 52,894 shares during the period. Millennium Management LLC’s holdings in Fomento Economico Mexicano SAB were worth $16,241,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano SAB by 19.8% during the third quarter. Parallel Advisors LLC now owns 877 shares of the company’s stock valued at $80,000 after purchasing an additional 145 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano SAB by 54.6% during the second quarter. FinTrust Capital Advisors LLC now owns 555 shares of the company’s stock valued at $54,000 after purchasing an additional 196 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Fomento Economico Mexicano SAB by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 8,011 shares of the company’s stock valued at $774,000 after purchasing an additional 250 shares during the last quarter. Comerica Bank lifted its holdings in shares of Fomento Economico Mexicano SAB by 1.8% during the second quarter. Comerica Bank now owns 14,602 shares of the company’s stock valued at $1,393,000 after purchasing an additional 256 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Fomento Economico Mexicano SAB by 6.5% during the second quarter. M&T Bank Corp now owns 4,719 shares of the company’s stock valued at $456,000 after purchasing an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 19.88% of the company’s stock.

Separately, Scotiabank lowered shares of Fomento Economico Mexicano SAB from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Fomento Economico Mexicano SAB presently has an average rating of “Hold” and a consensus price target of $100.00.

Shares of NYSE FMX opened at $89.44 on Thursday. Fomento Economico Mexicano SAB has a twelve month low of $80.86 and a twelve month high of $100.35. The firm has a market cap of $31.61 billion, a P/E ratio of 25.92, a PEG ratio of 2.01 and a beta of 0.60. The company has a 50 day moving average of $91.27 and a 200 day moving average of $93.05. The company has a quick ratio of 1.24, a current ratio of 1.52 and a debt-to-equity ratio of 0.42.

Fomento Economico Mexicano SAB (NYSE:FMX) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.22). Fomento Economico Mexicano SAB had a return on equity of 8.37% and a net margin of 5.58%. The firm had revenue of $6.61 billion during the quarter. As a group, equities analysts expect that Fomento Economico Mexicano SAB will post 3.37 earnings per share for the current fiscal year.

About Fomento Economico Mexicano SAB

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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

Recommended Story: How big is the FinTech market?

Institutional Ownership by Quarter 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.