Fomento Economico Mexicano S.A.B. de C.V. $FMX is Northcape Capital Pty Ltd’s 6th Largest Position

Northcape Capital Pty Ltd grew its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 7.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 389,519 shares of the company’s stock after acquiring an additional 28,667 shares during the period. Fomento Economico Mexicano comprises 5.3% of Northcape Capital Pty Ltd’s portfolio, making the stock its 6th biggest holding. Northcape Capital Pty Ltd’s holdings in Fomento Economico Mexicano were worth $38,418,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FMX. Value Partners Investments Inc. lifted its stake in Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock worth $13,516,000 after purchasing an additional 41,400 shares in the last quarter. INCA Investments LLC increased its holdings in shares of Fomento Economico Mexicano by 106.1% in the second quarter. INCA Investments LLC now owns 274,769 shares of the company’s stock worth $28,296,000 after purchasing an additional 141,419 shares during the period. Barings LLC raised its position in shares of Fomento Economico Mexicano by 31.7% in the second quarter. Barings LLC now owns 72,617 shares of the company’s stock worth $7,478,000 after buying an additional 17,488 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Fomento Economico Mexicano by 79.8% during the third quarter. Exchange Traded Concepts LLC now owns 143,865 shares of the company’s stock valued at $14,189,000 after buying an additional 63,865 shares during the period. Finally, Vise Technologies Inc. bought a new stake in Fomento Economico Mexicano during the second quarter valued at $495,000. 61.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on FMX. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $97.00 in a research note on Tuesday, September 9th. UBS Group raised Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $115.00 to $111.00 in a report on Friday, September 19th. JPMorgan Chase & Co. upped their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock opened at $101.09 on Friday. The business’s 50-day moving average price is $98.14 and its 200-day moving average price is $95.58. The firm has a market capitalization of $36.17 billion, a PE ratio of 40.76, a price-to-earnings-growth ratio of 3.93 and a beta of 0.46. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $108.74. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. Sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Profile

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.