Carrhae Capital LLP Has $46.44 Million Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Carrhae Capital LLP boosted its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 23.4% during the fourth quarter, Holdings Channel reports. The firm owned 543,167 shares of the company’s stock after purchasing an additional 103,131 shares during the quarter. Fomento Económico Mexicano comprises about 3.9% of Carrhae Capital LLP’s holdings, making the stock its 10th biggest position. Carrhae Capital LLP’s holdings in Fomento Económico Mexicano were worth $46,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group raised its position in Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 154 shares during the period. Mather Group LLC. boosted its stake in Fomento Económico Mexicano by 179.1% in the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after purchasing an additional 369 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Fomento Económico Mexicano during the fourth quarter worth $51,000. Rosenberg Matthew Hamilton grew its position in shares of Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after purchasing an additional 176 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Fomento Económico Mexicano by 29.7% in the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock worth $76,000 after acquiring an additional 203 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Fomento Económico Mexicano Trading Down 0.7 %

NYSE:FMX opened at $96.66 on Tuesday. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.08 and a 52 week high of $131.56. The firm has a 50 day moving average of $90.53 and a 200 day moving average of $92.39. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 5.26 and a beta of 0.87.

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

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is currently 11.03%.

About Fomento Económico Mexicano

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.