INCA Investments LLC Has $13.01 Million Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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

A number of other large investors also recently modified their holdings of the business. Alpine Bank Wealth Management acquired a new stake in Fomento Economico Mexicano during the first quarter worth about $46,000. Banque Transatlantique SA bought a new stake in shares of Fomento Economico Mexicano in the 4th quarter worth approximately $44,000. Parallel Advisors LLC grew its holdings in shares of Fomento Economico Mexicano by 56.2% during the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company's stock worth $81,000 after purchasing an additional 299 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Fomento Economico Mexicano during the fourth quarter valued at approximately $72,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Fomento Economico Mexicano in the first quarter valued at $207,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock traded down $0.49 during mid-day trading on Friday, hitting $105.70. 145,478 shares of the company were exchanged, 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 price-to-earnings-growth ratio of 3.72 and a beta of 0.65. The business has a fifty day moving average of $104.25 and a 200 day moving average of $96.31. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.08 and a 1-year high of $119.18. The company has a quick ratio of 1.31, a current ratio of 1.64 and a debt-to-equity ratio of 0.34.

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

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a $1.628 dividend. This is an increase from Fomento Economico Mexicano's previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Economico Mexicano's payout ratio is presently 11.41%.

About Fomento Economico Mexicano

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.