Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Position Lessened by INCA Investments LLC

INCA Investments LLC trimmed its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,348 shares of the company’s stock after selling 91,762 shares during the period. Fomento Económico Mexicano accounts for 17.7% of INCA Investments LLC’s portfolio, making the stock its 3rd largest position. INCA Investments LLC’s holdings in Fomento Económico Mexicano were worth $40,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in Fomento Económico Mexicano by 8.1% during the third quarter. SG Americas Securities LLC now owns 6,751 shares of the company’s stock valued at $737,000 after purchasing an additional 507 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Fomento Económico Mexicano by 53.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock valued at $80,321,000 after purchasing an additional 256,300 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Fomento Económico Mexicano by 19.8% during the third quarter. Bank of New York Mellon Corp now owns 60,503 shares of the company’s stock valued at $6,604,000 after purchasing an additional 10,006 shares in the last quarter. Baker Ellis Asset Management LLC boosted its position in shares of Fomento Económico Mexicano by 0.5% in the 3rd quarter. Baker Ellis Asset Management LLC now owns 44,051 shares of the company’s stock worth $4,808,000 after purchasing an additional 215 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new position in Fomento Económico Mexicano during the 3rd quarter worth $203,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com lowered Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. HSBC raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating and boosted their target price for the stock from $124.00 to $152.00 in a research report on Friday, February 9th. Bank of America reaffirmed a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. Finally, UBS Group lowered shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a report on Friday, January 12th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $135.75.

Fomento Económico Mexicano Price Performance

NYSE FMX traded down $0.01 during trading hours on Monday, reaching $118.92. The stock had a trading volume of 1,210,525 shares, compared to its average volume of 715,952. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $95.40 and a 52-week high of $143.43. The stock has a fifty day moving average of $124.67 and a 200 day moving average of $125.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.63.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.47 EPS for the quarter. Fomento Económico Mexicano had a net margin of 2.91% and a return on equity of 8.20%. The business had revenue of $10.76 billion during the quarter. Research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th will be issued a $1.115 dividend. This represents a yield of 0.87%. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74. The ex-dividend date is Tuesday, April 16th. Fomento Económico Mexicano’s dividend payout ratio is presently 16.80%.

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.