The average one-year price target for Fomento Economico Mexicano S.A.B. de C.V. - ADR (NYSE:FMX) has been revised to 116.86 / share. This is an increase of 12.02% from the prior estimate of 104.32 dated June 1, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 113.91 to a high of 125.76 / share. The average price target represents an increase of 3.18% from the latest reported closing price of 113.25 / share.
What is the Fund Sentiment?
There are 391 funds or institutions reporting positions in Fomento Economico Mexicano S.A.B. de C.V. - ADR. This is an increase of 16 owner(s) or 4.27% in the last quarter. Average portfolio weight of all funds dedicated to FMX is 0.76%, a decrease of 5.57%. Total shares owned by institutions decreased in the last three months by 0.43% to 96,140K shares. 
The put/call ratio of FMX is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
First Eagle Investment Management holds 10,989K shares representing 0.07% ownership of the company. In it's prior filing, the firm reported owning 10,990K shares, representing a decrease of 0.01%. The firm increased its portfolio allocation in FMX by 17.04% over the last quarter.
Harding Loevner holds 9,045K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 9,145K shares, representing a decrease of 1.11%. The firm increased its portfolio allocation in FMX by 19.05% over the last quarter.
SGENX - First Eagle Global Fund holds 5,421K shares representing 0.03% ownership of the company. No change in the last quarter.
Royal Bank Of Canada holds 5,008K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 4,981K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in FMX by 86.85% over the last quarter.
Schroder Investment Management Group holds 3,976K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 4,312K shares, representing a decrease of 8.45%. The firm increased its portfolio allocation in FMX by 5.27% over the last quarter.
Fomento Economico Mexicano S.A.B. de C.V. Background Information
(This description is provided by the company.)
Fomento Económico Mexicano, S.A.B. de C.V., doing business as FEMSA, is a Mexican multinational beverage and retail company headquartered in Monterrey, Mexico. It operates the largest independent Coca-Cola bottling group in the world and the largest convenience store chain in Mexico.
Additional reading:
- Financial Summary for the Second Quarter and First Six Months 2023 Change vs. comparable period
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- Fomento Económico Mexicano, S.A.B. de C.V. Code of Principles and Best Corporate Governance Practices Questionnaire
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
