Fomento Economico Mexicano SAB (NYSE:FMX) Short Interest Update

Fomento Economico Mexicano SAB (NYSE:FMX) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 356,500 shares, a drop of 15.0% from the June 30th total of 419,600 shares. Based on an average daily trading volume, of 300,400 shares, the short-interest ratio is currently 1.2 days. Approximately 0.2% of the company’s stock are short sold.

Shares of FMX stock traded up $1.34 on Thursday, hitting $86.40. The company’s stock had a trading volume of 307,921 shares, compared to its average volume of 343,807. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.40 and a quick ratio of 1.10. Fomento Economico Mexicano SAB has a fifty-two week low of $80.86 and a fifty-two week high of $100.35. The firm’s fifty day moving average price is $93.22 and its 200-day moving average price is $94.10. The stock has a market capitalization of $30.44 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 1.51 and a beta of 0.64.

Separately, ValuEngine lowered shares of Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $100.00.

Several hedge funds have recently added to or reduced their stakes in FMX. Invesco Ltd. lifted its stake in shares of Fomento Economico Mexicano SAB by 60.3% in the 2nd quarter. Invesco Ltd. now owns 7,268,917 shares of the company’s stock valued at $703,268,000 after purchasing an additional 2,735,692 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Fomento Economico Mexicano SAB by 10.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,024,836 shares of the company’s stock valued at $279,075,000 after purchasing an additional 281,252 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Fomento Economico Mexicano SAB by 281.8% in the 2nd quarter. Acadian Asset Management LLC now owns 380,387 shares of the company’s stock valued at $36,806,000 after purchasing an additional 280,762 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fomento Economico Mexicano SAB by 3.8% in the 1st quarter. JPMorgan Chase & Co. now owns 5,220,741 shares of the company’s stock valued at $481,770,000 after purchasing an additional 191,820 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of Fomento Economico Mexicano SAB in the 2nd quarter valued at $13,711,000. 20.46% of the stock is owned by institutional investors and hedge funds.

About Fomento Economico Mexicano SAB

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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

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