Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Stake Trimmed by INCA Investments LLC

INCA Investments LLC trimmed its position 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 filing with the Securities and Exchange Commission (SEC). The firm owned 133,350 shares of the company's stock after selling 70,696 shares during the period. Fomento Economico Mexicano accounts for approximately 6.0% of INCA Investments LLC's investment portfolio, making the stock its 7th biggest holding. INCA Investments LLC's holdings in Fomento Economico Mexicano were worth $13,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in shares of Fomento Economico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after purchasing an additional 2,150,913 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Fomento Economico Mexicano by 5.5% during the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock valued at $450,454,000 after buying an additional 274,467 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Fomento Economico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after buying an additional 717,666 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Fomento Economico Mexicano by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after buying an additional 205,981 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Fomento Economico Mexicano by 540.3% in the fourth quarter. FMR LLC now owns 3,147,544 shares of the company's stock worth $269,084,000 after buying an additional 2,655,962 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FMX. 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 report on Thursday, May 15th. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Itau BBA Securities raised shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, Barclays upped 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 research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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 trading on Friday, reaching $105.70. The company had a trading volume of 145,478 shares, compared to its average volume of 601,239. The firm 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 firm's 50-day simple moving average is $104.25 and its 200 day simple moving average is $96.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.31 and a current ratio of 1.64. 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.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $9.65 billion for the quarter, compared to analysts' expectations 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, equities research 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 issued a $1.628 dividend. This represents a yield of 1.57%. This is a boost from Fomento Economico Mexicano's previous dividend of $0.92. The ex-dividend date was Thursday, April 24th. Fomento Economico Mexicano's payout ratio is presently 11.41%.

Fomento Economico 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.