Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Rating) was the target of a large decrease in short interest in December. As of December 30th, there was short interest totalling 2,190,000 shares, a decrease of 5.2% from the December 15th total of 2,310,000 shares. Based on an average daily volume of 608,800 shares, the days-to-cover ratio is presently 3.6 days. Approximately 1.0% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
FMX has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of Fomento Económico Mexicano from $95.60 to $109.20 and gave the company a “buy” rating in a research report on Wednesday, November 16th. UBS Group upgraded Fomento Económico Mexicano from a “neutral” rating to a “buy” rating in a research report on Monday, October 10th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Monday, October 31st. Finally, Barclays upped their price objective on Fomento Económico Mexicano from $85.00 to $88.00 in a research note on Monday, December 19th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.53.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of FMX. National Bank of Canada FI raised its stake in Fomento Económico Mexicano by 95,069.7% during the fourth quarter. National Bank of Canada FI now owns 62,812 shares of the company’s stock worth $4,906,000 after buying an additional 62,746 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Fomento Económico Mexicano in the 4th quarter worth about $254,000. Veriti Management LLC lifted its stake in shares of Fomento Económico Mexicano by 1.7% in the 4th quarter. Veriti Management LLC now owns 7,562 shares of the company’s stock valued at $591,000 after purchasing an additional 126 shares during the period. Vestmark Advisory Solutions Inc. boosted its position in shares of Fomento Económico Mexicano by 29.1% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 7,504 shares of the company’s stock valued at $586,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Fomento Económico Mexicano by 2.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 35,226 shares of the company’s stock worth $2,752,000 after purchasing an additional 918 shares during the period. Institutional investors and hedge funds own 21.07% of the company’s stock.
Fomento Económico Mexicano Stock Up 0.5 %
Fomento Económico Mexicano (NYSE:FMX – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.22). The company had revenue of $8.49 billion during the quarter. Fomento Económico Mexicano had a return on equity of 10.38% and a net margin of 4.56%. On average, analysts anticipate that Fomento Económico Mexicano will post 3.79 EPS for the current year.
About Fomento Económico Mexicano
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 Business.
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