Allspring Global Investments Holdings LLC Sells 527,750 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Allspring Global Investments Holdings LLC reduced its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,118,195 shares of the company's stock after selling 527,750 shares during the period. Allspring Global Investments Holdings LLC's holdings in Fomento Económico Mexicano were worth $276,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. boosted its holdings in Fomento Económico Mexicano by 118.0% in the 3rd quarter. Baillie Gifford & Co. now owns 2,495,474 shares of the company's stock worth $272,381,000 after buying an additional 1,350,922 shares during the period. Acadian Asset Management LLC boosted its holdings in Fomento Económico Mexicano by 284.7% in the 3rd quarter. Acadian Asset Management LLC now owns 852,977 shares of the company's stock worth $93,085,000 after buying an additional 631,270 shares during the period. BlackRock Inc. boosted its holdings in Fomento Económico Mexicano by 22.2% in the 1st quarter. BlackRock Inc. now owns 2,019,228 shares of the company's stock worth $167,294,000 after buying an additional 366,751 shares during the period. Victory Capital Management Inc. bought a new position in Fomento Económico Mexicano in the 4th quarter worth approximately $27,473,000. Finally, Long Pond Capital LP boosted its holdings in Fomento Económico Mexicano by 108.5% in the 4th quarter. Long Pond Capital LP now owns 655,882 shares of the company's stock worth $51,238,000 after buying an additional 341,382 shares during the period.

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock traded up $0.31 on Monday, hitting $128.78. 704,627 shares of the company traded hands, compared to its average volume of 662,908. The firm's 50-day simple moving average is $130.36 and its 200 day simple moving average is $124.23. The company has a current ratio of 1.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. The company has a market cap of $46.08 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.98 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 12-month low of $91.71 and a 12-month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $1.07 earnings per share for the quarter. The firm had revenue of $11.23 billion for the quarter, compared to analysts' expectations of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. Analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on FMX shares. StockNews.com downgraded shares of Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Monday, February 26th. HSBC upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating and increased their target price for the stock from $124.00 to $152.00 in a research note on Friday, February 9th. Bank of America reiterated a "neutral" rating on shares of Fomento Económico Mexicano in a research note on Monday, February 26th. Finally, UBS Group cut shares of Fomento Económico Mexicano from a "buy" rating to a "neutral" rating in a research note on Friday, January 12th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $135.75.

About Fomento Económico Mexicano

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.

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