Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Stock Position Raised by Northcape Capital Pty Ltd

Northcape Capital Pty Ltd raised its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,015 shares of the company’s stock after acquiring an additional 6,786 shares during the quarter. Fomento Económico Mexicano makes up 2.9% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 6th largest position. Northcape Capital Pty Ltd’s holdings in Fomento Económico Mexicano were worth $24,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Operose Advisors LLC purchased a new position in shares of Fomento Económico Mexicano during the third quarter valued at approximately $29,000. Advisory Services Network LLC boosted its holdings in shares of Fomento Económico Mexicano by 44.3% during the first quarter. Advisory Services Network LLC now owns 342 shares of the company’s stock worth $33,000 after purchasing an additional 105 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Fomento Económico Mexicano by 117.0% in the first quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock valued at $35,000 after purchasing an additional 227 shares during the period. Assetmark Inc. purchased a new position in Fomento Económico Mexicano during the third quarter worth about $36,000. Finally, Castleview Partners LLC boosted its stake in Fomento Económico Mexicano by 51.2% in the 2nd quarter. Castleview Partners LLC now owns 434 shares of the company’s stock worth $48,000 after buying an additional 147 shares during the last quarter.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX traded up $0.50 during midday trading on Thursday, reaching $130.75. The company had a trading volume of 71,266 shares, compared to its average volume of 667,482. The company has a fifty day simple moving average of $131.14 and a two-hundred day simple moving average of $123.12. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $91.71 and a 1-year high of $143.43. The company has a current ratio of 1.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Friday, February 23rd. The company reported $1.07 EPS for the quarter. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.21 billion. Research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.7 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. StockNews.com cut shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their target price for the company from $124.00 to $152.00 in a report on Friday, February 9th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Finally, Citigroup started coverage on Fomento Económico Mexicano in a research report on Thursday, December 7th. They issued a “neutral” rating and a $134.00 price objective on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Fomento Económico Mexicano currently has an average rating of “Hold” and a consensus price target of $135.75.

Fomento Económico Mexicano Company Profile

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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.