Ninety One North America Inc. Grows Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Ninety One North America Inc. lifted its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,422 shares of the company’s stock after buying an additional 1,470 shares during the quarter. Ninety One North America Inc.’s holdings in Fomento Económico Mexicano were worth $21,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Fomento Económico Mexicano during the 2nd quarter valued at about $577,000. Perpetual Ltd lifted its stake in Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares during the period. Northcape Capital Pty Ltd lifted its stake in Fomento Económico Mexicano by 0.9% during the 3rd quarter. Northcape Capital Pty Ltd now owns 346,169 shares of the company’s stock valued at $34,170,000 after acquiring an additional 3,125 shares during the period. Blue Trust Inc. lifted its stake in Fomento Económico Mexicano by 71.1% during the 3rd quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $725,000 after acquiring an additional 2,801 shares during the period. Finally, Carrhae Capital LLP lifted its stake in Fomento Económico Mexicano by 46.0% during the 3rd quarter. Carrhae Capital LLP now owns 440,036 shares of the company’s stock valued at $43,436,000 after acquiring an additional 138,540 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FMX. Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group lowered their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.20.

Fomento Económico Mexicano Price Performance

NYSE FMX opened at $86.93 on Tuesday. 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 stock has a market cap of $31.10 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 4.92 and a beta of 0.90. The company’s 50 day moving average is $86.26 and its two-hundred day moving average is $96.49. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a dividend of $0.9201 per share. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.79%.

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.