Northcape Capital Pty Ltd Has $57.42 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Northcape Capital Pty Ltd lowered its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 448,912 shares of the company’s stock after selling 45,196 shares during the quarter. Fomento Economico Mexicano accounts for about 7.7% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 5th biggest holding. Northcape Capital Pty Ltd owned 0.13% of Fomento Economico Mexicano worth $57,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FMX. V Square Quantitative Management LLC purchased a new stake in shares of Fomento Economico Mexicano during the first quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its position in Fomento Economico Mexicano by 2,006.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the period. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano during the 4th quarter valued at about $50,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after acquiring an additional 499 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $119.74 on Tuesday. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $141.47. The firm has a market capitalization of $41.37 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 0.68 and a beta of 0.40. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $126.67 and a 200 day moving average of $117.97.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 8.38%. On average, research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a $1.827 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a yield of 6.1%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s payout ratio is 48.60%.

Analysts Set New Price Targets

FMX has been the subject of a number of research analyst reports. Bank of America upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $150.00 in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. UBS Group reaffirmed a “neutral” rating and issued a $139.00 target price on shares of Fomento Economico Mexicano in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Fomento Economico Mexicano in a research note on Friday. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $127.12.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.