Fayez Sarofim & Co. reduced its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 126,035 shares of the company’s stock after selling 425 shares during the period. Fayez Sarofim & Co. owned 0.06% of Fomento Economico Mexicano S.A.B. de C.V. worth $12,394,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 4.2% in the 1st quarter. TD Asset Management Inc. now owns 28,976 shares of the company’s stock valued at $2,565,000 after acquiring an additional 1,179 shares during the period. Legal & General Group Plc raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 282.2% in the 1st quarter. Legal & General Group Plc now owns 10,564 shares of the company’s stock valued at $936,000 after acquiring an additional 7,800 shares during the period. FIL Ltd raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 15.2% in the 1st quarter. FIL Ltd now owns 2,346,144 shares of the company’s stock valued at $207,680,000 after acquiring an additional 309,600 shares during the period. APG Asset Management N.V. raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 14.1% in the 2nd quarter. APG Asset Management N.V. now owns 313,930 shares of the company’s stock valued at $30,872,000 after acquiring an additional 38,900 shares during the period. Finally, Vanguard Group Inc. raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 156,624 shares of the company’s stock valued at $13,864,000 after acquiring an additional 18,433 shares during the period. Institutional investors and hedge funds own 21.58% of the company’s stock.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (FMX) traded down 1.94% during midday trading on Friday, hitting $97.46. The stock had a trading volume of 361,822 shares. The firm has a market cap of $34.87 billion, a price-to-earnings ratio of 29.09 and a beta of 0.58. 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 price is $99.83 and its 200 day moving average price is $94.75.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.11). Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.49 billion. On average, equities analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post $3.48 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Gabelli assumed coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research note on Monday, July 17th. They issued a “buy” rating and a $112.00 price objective on the stock. Zacks Investment Research cut Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. BidaskClub upgraded Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Finally, Morgan Stanley assumed coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Thursday. They set an “overweight” rating and a $120.00 price target on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $108.75.

COPYRIGHT VIOLATION WARNING: This report was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://www.thecerbatgem.com/2017/09/17/fayez-sarofim-co-lowers-position-in-fomento-economico-mexicano-s-a-b-de-c-v-fmx.html.

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)

Receive News & Stock Ratings for Fomento Economico Mexicano S.A.B. de C.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fomento Economico Mexicano S.A.B. de C.V. and related stocks with our FREE daily email newsletter.