Northcape Capital Pty Ltd Sells 42,783 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Northcape Capital Pty Ltd lowered its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Rating) by 32.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,765 shares of the company’s stock after selling 42,783 shares during the period. Fomento Económico Mexicano comprises 0.9% of Northcape Capital Pty Ltd’s holdings, making the stock its 7th biggest holding. Northcape Capital Pty Ltd’s holdings in Fomento Económico Mexicano were worth $7,012,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Fomento Económico Mexicano by 11.0% in the 3rd quarter. BlackRock Inc. now owns 3,056,875 shares of the company’s stock worth $191,820,000 after purchasing an additional 302,363 shares during the last quarter. Comgest Global Investors S.A.S. boosted its holdings in shares of Fomento Económico Mexicano by 10.4% in the third quarter. Comgest Global Investors S.A.S. now owns 2,202,050 shares of the company’s stock worth $138,179,000 after buying an additional 207,025 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Fomento Económico Mexicano by 5.3% in the second quarter. JPMorgan Chase & Co. now owns 1,791,321 shares of the company’s stock worth $120,897,000 after buying an additional 90,297 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Fomento Económico Mexicano by 20.4% in the third quarter. Nuveen Asset Management LLC now owns 1,734,301 shares of the company’s stock worth $108,827,000 after buying an additional 294,235 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Fomento Económico Mexicano by 11.1% in the second quarter. Renaissance Technologies LLC now owns 911,100 shares of the company’s stock worth $61,490,000 after buying an additional 90,700 shares during the period. Institutional investors and hedge funds own 21.07% of the company’s stock.

Fomento Económico Mexicano Trading Down 1.6 %

NYSE FMX traded down $1.43 during trading on Friday, reaching $87.23. The company’s stock had a trading volume of 555,843 shares, compared to its average volume of 751,877. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.06. The business has a 50-day moving average price of $87.56 and a 200-day moving average price of $77.22. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $58.73 and a 1-year high of $95.81.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Scotiabank upgraded shares of Fomento Económico Mexicano from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 16th. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating and set a $100.00 target price for the company. in a report on Friday, March 3rd. StockNews.com initiated coverage on shares of Fomento Económico Mexicano in a report on Thursday. They set a “buy” rating for the company. HSBC raised their price target on shares of Fomento Económico Mexicano from $58.00 to $77.00 and gave the stock a “reduce” rating in a report on Friday, February 17th. Finally, Citigroup initiated coverage on shares of Fomento Económico Mexicano in a report on Friday, March 3rd. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Fomento Económico Mexicano presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.24.

Fomento Económico Mexicano Company Profile

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Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business.