INCA Investments LLC Trims Stock Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

INCA Investments LLC decreased its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 34.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,350 shares of the company's stock after selling 70,696 shares during the quarter. Fomento Economico Mexicano accounts for about 6.0% of INCA Investments LLC's portfolio, making the stock its 7th largest position. INCA Investments LLC's holdings in Fomento Economico Mexicano were worth $13,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Banque Transatlantique SA acquired a new stake in shares of Fomento Economico Mexicano during the fourth quarter worth about $44,000. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano during the first quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Fomento Economico Mexicano during the fourth quarter worth about $72,000. Parallel Advisors LLC raised its position in shares of Fomento Economico Mexicano by 56.2% during the first quarter. Parallel Advisors LLC now owns 831 shares of the company's stock worth $81,000 after purchasing an additional 299 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Fomento Economico Mexicano during the first quarter worth about $207,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FMX. Itau BBA Securities raised Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Barclays lifted their target price on Fomento Economico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, UBS Group boosted their price target on Fomento Economico Mexicano from $107.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $106.70.

Fomento Economico Mexicano Price Performance

NYSE FMX traded down $0.49 during midday trading on Friday, hitting $105.70. The company had a trading volume of 145,478 shares, compared to its average volume of 601,239. The company has a market capitalization of $37.82 billion, a PE ratio of 23.65, a P/E/G ratio of 3.72 and a beta of 0.65. The company has a current ratio of 1.64, a quick ratio of 1.31 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $104.25 and a 200-day moving average price of $96.46. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $119.18.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $194.75 billion. As a group, analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were given a dividend of $1.628 per share. The ex-dividend date was Thursday, April 24th. This represents a yield of 1.57%. This is a positive change from Fomento Economico Mexicano's previous dividend of $0.92. Fomento Economico Mexicano's payout ratio is currently 11.41%.

Fomento Economico 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.