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 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 340,036 shares of the company’s stock after selling 6,133 shares during the period. Fomento Económico Mexicano makes up about 4.6% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 6th biggest holding. Northcape Capital Pty Ltd’s holdings in Fomento Económico Mexicano were worth $29,070,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Fomento Económico Mexicano in the third quarter worth about $55,000. Van ECK Associates Corp raised its holdings in shares of Fomento Económico Mexicano by 61.7% in the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after buying an additional 306 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Fomento Económico Mexicano by 9.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock worth $245,000 after buying an additional 204 shares during the period. Wealth Alliance boosted its stake in Fomento Económico Mexicano by 4.4% in the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company’s stock valued at $378,000 after buying an additional 147 shares in the last quarter. Finally, MQS Management LLC bought a new stake in Fomento Económico Mexicano in the third quarter valued at $369,000. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Up 2.3 %

Shares of NYSE:FMX opened at $85.33 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market cap of $30.53 billion, a P/E ratio of 21.88, a P/E/G ratio of 5.19 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $143.43. The company’s 50-day moving average price is $89.48 and its two-hundred day moving average price is $99.85.

Analyst Ratings Changes

Several equities research analysts have recently commented on FMX shares. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, Barclays dropped their price objective on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of “Moderate Buy” and an average price target of $126.33.

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.