Eqis Capital Management Inc. Sells 1,224 Shares of Fomento Economico Mexicano SAB (NYSE:FMX)

Eqis Capital Management Inc. lessened its stake in Fomento Economico Mexicano SAB (NYSE:FMX) by 34.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,357 shares of the company’s stock after selling 1,224 shares during the period. Eqis Capital Management Inc.’s holdings in Fomento Economico Mexicano SAB were worth $216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nkcfo LLC bought a new position in Fomento Economico Mexicano SAB during the 2nd quarter valued at approximately $29,000. Marshall Wace LLP bought a new position in Fomento Economico Mexicano SAB during the 1st quarter valued at approximately $36,000. NumerixS Investment Technologies Inc bought a new position in Fomento Economico Mexicano SAB during the 2nd quarter valued at approximately $39,000. FinTrust Capital Advisors LLC raised its position in Fomento Economico Mexicano SAB by 54.6% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 555 shares of the company’s stock valued at $54,000 after purchasing an additional 196 shares during the last quarter. Finally, Trust Co. of Vermont bought a new position in Fomento Economico Mexicano SAB during the 2nd quarter valued at approximately $77,000. 20.91% of the stock is owned by institutional investors.

A number of research analysts have commented on FMX shares. Scotiabank lowered Fomento Economico Mexicano SAB from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 26th. ValuEngine lowered Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $100.00.

Shares of NYSE:FMX opened at $92.52 on Tuesday. Fomento Economico Mexicano SAB has a 52-week low of $80.86 and a 52-week high of $100.35. The firm has a market capitalization of $33.28 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.80 and a beta of 0.60. The stock has a 50 day moving average price of $91.42 and a 200-day moving average price of $93.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.24 and a current ratio of 1.52.

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.

Further Reading: Sell-Side Analysts

Institutional Ownership by Quarter for Fomento Economico Mexicano SAB (NYSE:FMX)

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