William Blair Investment Management LLC boosted its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 55.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,087,301 shares of the company’s stock after buying an additional 386,233 shares during the period. William Blair Investment Management LLC owned about 0.30% of Fomento Economico Mexicano S.A.B. de C.V. worth $106,925,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FMX. ING Groep NV purchased a new position in Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth $211,000. Wetherby Asset Management Inc. purchased a new position in Fomento Economico Mexicano S.A.B. de C.V. during the second quarter worth $220,000. Creative Planning raised its position 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 position in Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth $239,000. Finally, First Trust Advisors LP purchased a new position in Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth $240,000. 23.83% of the stock is owned by hedge funds and other institutional investors.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE FMX) opened at 101.01 on Monday. The company has a market cap of $36.14 billion, a P/E ratio of 30.15 and a beta of 0.57. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $73.45 and a 12-month high of $103.82. The stock’s 50 day moving average is $100.23 and its 200 day moving average is $92.06.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last posted its earnings results on Tuesday, July 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. On average, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post $3.44 earnings per share for the current year.

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A number of research analysts have weighed in on the stock. Gabelli assumed coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They set a “buy” rating and a $112.00 target price for the company. Barclays PLC cut their target price on shares of 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 report on Monday, May 1st. Zacks Investment Research raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research report on Friday, July 14th. BidaskClub raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Citigroup Inc. downgraded shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $105.67.

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.

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

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