INCA Investments LLC Sells 285,157 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

INCA Investments LLC reduced its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 72.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,104 shares of the company’s stock after selling 285,157 shares during the period. Fomento Economico Mexicano makes up 4.3% of INCA Investments LLC’s investment portfolio, making the stock its 8th largest holding. INCA Investments LLC’s holdings in Fomento Economico Mexicano were worth $12,228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of Fomento Economico Mexicano during the first quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its position in Fomento Economico Mexicano by 2,006.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Fomento Economico Mexicano during the 4th quarter worth approximately $50,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after purchasing an additional 499 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FMX shares. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. UBS Group increased their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Fomento Economico Mexicano presently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $127.04 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $131.81. The company’s 50 day moving average price is $123.95 and its two-hundred day moving average price is $114.08. The stock has a market cap of $43.90 billion, a P/E ratio of 28.42, a P/E/G ratio of 0.69 and a beta of 0.41. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. On average, equities analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be given a $1.827 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, July 15th. Fomento Economico Mexicano’s payout ratio is presently 53.47%.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.