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

Northcape Capital Pty Ltd trimmed its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,912 shares of the company’s stock after selling 45,196 shares during the quarter. Fomento Economico Mexicano comprises approximately 7.7% of Northcape Capital Pty Ltd’s holdings, making the stock its 5th biggest position. Northcape Capital Pty Ltd’s holdings in Fomento Economico Mexicano were worth $57,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Fomento Economico Mexicano by 19.0% in the first quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after purchasing an additional 969 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fomento Economico Mexicano by 2,006.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. New York State Common Retirement Fund bought a new position in Fomento Economico Mexicano in the 2nd quarter worth $429,000. EverSource Wealth Advisors LLC boosted its holdings in Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company’s stock worth $119,000 after buying an additional 438 shares during the period. Finally, Jump Financial LLC purchased a new stake in Fomento Economico Mexicano in the 2nd quarter worth $504,000. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $150.00 price target on Fomento Economico Mexicano in a report on Tuesday, August 4th. Zacks Research cut Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Fomento Economico Mexicano in a research note on Friday. UBS Group reissued a “neutral” rating and issued a $139.00 price target on shares of Fomento Economico Mexicano in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $127.12.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock opened at $119.74 on Tuesday. The stock has a 50 day moving average of $126.67 and a 200 day moving average of $117.97. 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 cap of $41.37 billion, a PE ratio of 23.95, a PEG 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.

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

Fomento Economico Mexicano Increases Dividend

The firm 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. This represents a $7.31 dividend on an annualized basis and a dividend yield of 6.1%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Wednesday, July 15th. Fomento Economico Mexicano’s payout ratio is 48.60%.

Fomento Economico Mexicano Company 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.