Fomento Economico Mexicano SAB (ADR) (FMX) was Initiated by Stifel to “Buy”. Stifel advised their investors in a research report released on Nov 22, 2016.
Fomento Economico Mexicano SAB (ADR) closed down -1.53 points or -1.92% at $78.18 with 9,74,119 shares getting traded on Monday. Post opening the session at $79.47, the shares hit an intraday low of $77.37 and an intraday high of $80.035 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Fomento Economico Mexicano S.A.B. de C.V. (FEMSA) is a holding company. The Company conducts its operations through principal holding companies each of which it refers to as a principal sub-holding company. These companies are Coca-Cola FEMSA S.A.B. de C.V. (Coca-Cola FEMSA) which engages in the production distribution and marketing of beverages and FEMSA Comercio S.A. de C.V. (FEMSA Comercio) which operates small-format stores and CB Equity LLP (CB Equity) which holds its investment in Heineken N.V. and Heineken Holding N.V. The Company’s Coca-Cola FEMSA produces markets sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries in which it operates. Coca-Cola FEMSA also sells bottled water products in bulk sizes. FEMSA Comercio operates a chain of small-format stores in Mexico.