Brandes Investment Partners LP Buys Shares of 10,041 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Brandes Investment Partners LP purchased a new position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,041 shares of the company’s stock, valued at approximately $1,080,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in Fomento Económico Mexicano by 9.0% in the first quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock worth $544,979,000 after acquiring an additional 344,815 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Fomento Económico Mexicano by 3.8% during the 4th quarter. Schroder Investment Management Group now owns 2,583,664 shares of the company’s stock valued at $336,781,000 after purchasing an additional 94,199 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of Fomento Económico Mexicano by 19.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock valued at $123,169,000 after buying an additional 153,771 shares in the last quarter. Black Creek Investment Management Inc. lifted its position in Fomento Económico Mexicano by 15.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 906,798 shares of the company’s stock worth $97,617,000 after buying an additional 121,800 shares during the last quarter. Finally, LA Financiere DE L Echiquier boosted its stake in Fomento Económico Mexicano by 22.1% in the second quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock worth $83,562,000 after buying an additional 140,309 shares in the last quarter.

Analysts Set New Price Targets

FMX has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fomento Económico Mexicano has an average rating of “Hold” and an average target price of $133.40.

Fomento Económico Mexicano Stock Performance

Shares of NYSE:FMX opened at $98.69 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $105.98 and a 200-day moving average price of $113.52. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $98.58 and a 12 month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The business had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. As a group, equities analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 EPS for the current year.

Fomento Económico Mexicano Company Profile

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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.