Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) is Carrhae Capital LLP's 9th Largest Position

Carrhae Capital LLP grew its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 46.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,036 shares of the company's stock after purchasing an additional 138,540 shares during the quarter. Fomento Económico Mexicano comprises approximately 5.0% of Carrhae Capital LLP's portfolio, making the stock its 9th largest holding. Carrhae Capital LLP owned approximately 0.12% of Fomento Económico Mexicano worth $43,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Fomento Económico Mexicano by 71.1% in the third quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $725,000 after acquiring an additional 2,801 shares during the period. Northcape Capital Pty Ltd raised its holdings in Fomento Económico Mexicano by 0.9% in the 3rd quarter. Northcape Capital Pty Ltd now owns 346,169 shares of the company's stock valued at $34,170,000 after buying an additional 3,125 shares during the period. Perpetual Ltd lifted its position in Fomento Económico Mexicano by 9.4% in the third quarter. Perpetual Ltd now owns 746,826 shares of the company's stock valued at $73,719,000 after buying an additional 64,291 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company's stock worth $50,832,000 after buying an additional 416,000 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Fomento Económico Mexicano during the second quarter valued at about $577,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FMX. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays decreased their target price on Fomento Económico Mexicano from $145.00 to $125.00 and set an "overweight" rating on the stock in a research note on Monday, October 14th. Five equities research 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, the company currently has an average rating of "Hold" and an average target price of $129.40.

Fomento Económico Mexicano Stock Up 0.4 %

FMX traded up $0.39 on Monday, hitting $98.27. 814,890 shares of the company were exchanged, compared to its average volume of 684,127. The firm has a 50-day moving average price of $102.77 and a two-hundred day moving average price of $110.52. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $95.84 and a twelve month high of $143.43. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 5.60 and a beta of 0.94.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The firm had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.41 earnings per share for the current year.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th will be given a dividend of $0.864 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio is currently 23.31%.

Fomento Económico Mexicano Company 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.