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

Carrhae Capital LLP raised its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 23.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 543,167 shares of the company’s stock after buying an additional 103,131 shares during the period. Fomento Económico Mexicano comprises approximately 3.9% of Carrhae Capital LLP’s portfolio, making the stock its 10th largest position. Carrhae Capital LLP owned about 0.15% of Fomento Económico Mexicano worth $46,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Fomento Económico Mexicano by 107.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after acquiring an additional 169,184 shares during the period. Park Avenue Securities LLC bought a new stake in Fomento Económico Mexicano in the fourth quarter valued at approximately $225,000. Sarasin & Partners LLP boosted its stake in shares of Fomento Económico Mexicano by 33.3% during the fourth quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 5,000 shares during the period. Cerity Partners LLC grew its holdings in shares of Fomento Económico Mexicano by 2.0% in the third quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after purchasing an additional 191 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Fomento Económico Mexicano by 141.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock worth $11,541,000 after buying an additional 79,181 shares during the period. 61.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FMX has been the subject of several analyst reports. Barclays increased their price target on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group increased their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Finally, The Goldman Sachs Group reduced their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.95.

Fomento Económico Mexicano Stock Down 0.7 %

Shares of NYSE FMX opened at $96.66 on Tuesday. The firm has a fifty day simple moving average of $90.53 and a two-hundred day simple moving average of $92.39. The firm has a market capitalization of $34.58 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $81.08 and a 12 month high of $131.56.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The company had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Equities analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is 11.03%.

Fomento Económico Mexicano 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.