Carrhae Capital LLP Raises Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Carrhae Capital LLP grew its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 46.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 440,036 shares of the company’s stock after purchasing an additional 138,540 shares during the period. Fomento Económico Mexicano makes up about 5.0% of Carrhae Capital LLP’s portfolio, making the stock its 9th biggest position. Carrhae Capital LLP’s holdings in Fomento Económico Mexicano were worth $43,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in Fomento Económico Mexicano by 71.1% during the 3rd quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $725,000 after acquiring an additional 2,801 shares during the last quarter. Northcape Capital Pty Ltd grew its position in Fomento Económico Mexicano by 0.9% during the 3rd quarter. Northcape Capital Pty Ltd now owns 346,169 shares of the company’s stock worth $34,170,000 after acquiring an additional 3,125 shares during the last quarter. Perpetual Ltd grew its position in Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after acquiring an additional 64,291 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Fomento Económico Mexicano by 740.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Fomento Económico Mexicano during the 2nd quarter worth $577,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FMX. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays dropped their price objective on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Saturday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $129.40.

Fomento Económico Mexicano Trading Up 2.0 %

NYSE FMX opened at $97.88 on Monday. The stock’s 50-day simple moving average is $102.77 and its two-hundred day simple moving average is $110.52. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $95.84 and a twelve month high of $143.43. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $35.02 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. The firm had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. Research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 EPS for the current fiscal year.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $0.864 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s payout ratio is 23.31%.

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.