Fomento Económico Mexicano, S.A.B. de C.V. (FMX)

About Fomento Económico Mexicano, S.A.B. de C.V.

Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide. The company operates through Coca-Cola FEMSA, Proximity Americas Division, Proximity Europe Division, Health Division, Fuel Division, and Others segments. It produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay. The company also operates small-box retail chain stores in Mexico, Colombia, Peru, Chile, Brazil, and the United States under the OXXO name; retail service stations for fuels, motor oils, lubricants, and car care products under the OXXO GAS name in Mexico; and drugstores in Chile, Colombia, Ecuador, and Mexico under the Cruz Verde, Fybeca, Sana Sana, YZA, La Moderna, and Farmacon names. In addition, the company provides transport logistics and maintenance services in Mexico, Brazil, and Colombia; processes electronic transactions for small and medium-sized businesses under the Spin name; and engages in the proximity discount grocery business under the Bara name. Further, it operates small-box retail and foodvenience chain stores in Switzerland, Germany, Austria, Luxembourg, and the Netherlands under the k kiosk, Brezelkönig, BackWerk, Ditsch, Press & Books, avec, Caffè Spettacolo, and ok.– brands. Fomento Económico Mexicano, S.A.B. de C.V. was founded in 1890 and is headquartered in Monterrey, Mexico.

FMX passes 1 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Smart money ownership

8 of the funds we track reported a position in their latest SEC 13F filing. Largest first:

• First Eagle, First Eagle Investment Management, LLC$1.43B · 2.4% of book
• Bill Nygren, HARRIS ASSOCIATES L P$498.35M · 0.3% of book
• Baillie Gifford, BAILLIE GIFFORD & CO$337.38M · 0.3% of book
• Israel Englander, MILLENNIUM MANAGEMENT LLC$16.48M · 0.0% of book
• Cliff Asness, AQR CAPITAL MANAGEMENT LLC$10.46M · 0.0% of book

A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.

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