Northcape Capital Pty Ltd Sells 6,133 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Northcape Capital Pty Ltd decreased its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 340,036 shares of the company’s stock after selling 6,133 shares during the period. Fomento Económico Mexicano accounts for approximately 4.6% of Northcape Capital Pty Ltd’s portfolio, making the stock its 6th biggest position. Northcape Capital Pty Ltd owned about 0.10% of Fomento Económico Mexicano worth $29,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FMX. Synovus Financial Corp lifted its holdings in shares of Fomento Económico Mexicano by 100.6% during the 3rd quarter. Synovus Financial Corp now owns 12,192 shares of the company’s stock valued at $1,204,000 after buying an additional 6,113 shares during the last quarter. Barclays PLC grew its position in Fomento Económico Mexicano by 78.2% in the third quarter. Barclays PLC now owns 72,159 shares of the company’s stock worth $7,123,000 after acquiring an additional 31,656 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Fomento Económico Mexicano during the 3rd quarter worth $19,856,000. Y Intercept Hong Kong Ltd bought a new position in shares of Fomento Económico Mexicano during the 3rd quarter valued at $717,000. Finally, XTX Topco Ltd acquired a new stake in shares of Fomento Económico Mexicano in the 3rd quarter valued at $2,339,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

FMX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays lowered their price target on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.33.

Fomento Económico Mexicano Price Performance

NYSE FMX opened at $85.33 on Wednesday. The stock has a 50-day simple moving average of $89.48 and a 200 day simple moving average of $99.85. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $143.43. The stock has a market capitalization of $30.53 billion, a PE ratio of 21.88, a P/E/G ratio of 5.19 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72.

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.