Northcape Capital Pty Ltd raised its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,613 shares of the company’s stock after acquiring an additional 1,230 shares during the period. Fomento Económico Mexicano accounts for 0.2% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 23rd biggest position. Northcape Capital Pty Ltd’s holdings in Fomento Económico Mexicano were worth $1,361,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of Fomento Económico Mexicano by 25.6% during the 3rd quarter. Wells Fargo & Company MN now owns 3,683,960 shares of the company’s stock valued at $207,001,000 after acquiring an additional 749,893 shares in the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of Fomento Económico Mexicano by 14.1% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,567,919 shares of the company’s stock valued at $159,237,000 after acquiring an additional 317,176 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Fomento Económico Mexicano by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,265,506 shares of the company’s stock valued at $125,123,000 after acquiring an additional 20,721 shares in the last quarter. Brandes Investment Partners LP purchased a new position in shares of Fomento Económico Mexicano during the 3rd quarter valued at $61,194,000. Finally, Morgan Stanley grew its holdings in shares of Fomento Económico Mexicano by 23.8% during the 1st quarter. Morgan Stanley now owns 604,262 shares of the company’s stock valued at $36,564,000 after acquiring an additional 116,136 shares in the last quarter. 18.44% of the stock is currently owned by institutional investors.
Shares of NYSE:FMX opened at $74.33 on Monday. The stock has a market capitalization of $26.60 billion, a PE ratio of 75.08, a P/E/G ratio of 8.89 and a beta of 0.73. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $52.91 and a 1 year high of $98.05. The firm has a fifty day moving average price of $62.44 and a 200 day moving average price of $61.43. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59.
Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.47). The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.38 billion. Fomento Económico Mexicano had a return on equity of 2.70% and a net margin of 1.21%. On average, sell-side analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 1.31 earnings per share for the current fiscal year.
The company also recently declared a — dividend, which was paid on Monday, November 16th. Shareholders of record on Wednesday, November 4th were issued a dividend of $0.7333 per share. This represents a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, November 3rd. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 48.53%.
Several equities analysts have recently commented on FMX shares. Zacks Investment Research upgraded shares of Fomento Económico Mexicano from a “sell” rating to a “hold” rating and set a $56.00 price target on the stock in a report on Tuesday, November 3rd. Itau BBA Securities cut shares of Fomento Económico Mexicano from an “outperform” rating to a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $79.33.
Fomento Económico Mexicano Profile
Fomento EconÃ³mico 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, including low-sugar or sugar-free carbonated beverages; refreshing juices, nectars, and fruit-based drinks; purified, and carbonated and flavored water; coffees, teas, and sports and energy drinks; and dairy products and products based on vegetable protein.
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