Atria Investments LLC Increases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Atria Investments LLC lifted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 12.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,121 shares of the company’s stock after purchasing an additional 2,244 shares during the quarter. Atria Investments LLC’s holdings in Fomento Económico Mexicano were worth $1,700,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Fomento Económico Mexicano by 550.8% in the first quarter. BlackRock Inc. now owns 691,301 shares of the company’s stock worth $52,074,000 after purchasing an additional 585,072 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Fomento Económico Mexicano during the first quarter valued at approximately $331,000. Millennium Management LLC purchased a new position in Fomento Económico Mexicano during the first quarter valued at approximately $1,036,000. Long Pond Capital LP purchased a new position in Fomento Económico Mexicano during the first quarter valued at approximately $98,769,000. Finally, Marino Stram & Associates LLC purchased a new position in Fomento Económico Mexicano during the second quarter valued at approximately $392,000. Hedge funds and other institutional investors own 19.97% of the company’s stock.

Shares of FMX opened at $87.03 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.32 and a debt-to-equity ratio of 0.58. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $52.91 and a 12 month high of $89.59. The stock’s 50 day moving average is $85.87 and its two-hundred day moving average is $82.21. The firm has a market cap of $31.14 billion, a P/E ratio of 61.72, a PEG ratio of 1.83 and a beta of 1.08.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Wednesday, July 28th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.51). Fomento Económico Mexicano had a net margin of 1.85% and a return on equity of 3.10%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.43 billion. Equities research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 3.04 EPS for the current year.

Several research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Fomento Económico Mexicano in a research report on Friday, August 13th. They set a “buy” rating and a $106.00 price target for the company. Barclays lifted their price target on Fomento Económico Mexicano from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and an average price target of $105.00.

Fomento Económico Mexicano Profile

Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other.

Further Reading: What’s a Black Swan?

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Institutional Ownership by Quarter for Fomento Económico Mexicano (NYSE:FMX)

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