Levin Capital Strategies L.P. Decreases Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Levin Capital Strategies L.P. decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 51.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,407 shares of the company’s stock after selling 48,996 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Fomento Económico Mexicano were worth $3,967,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group increased its position in shares of Fomento Económico Mexicano by 82.8% in the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 154 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Fomento Económico Mexicano during the third quarter valued at about $55,000. Mather Group LLC. increased its position in shares of Fomento Económico Mexicano by 179.1% during the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after buying an additional 369 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Fomento Económico Mexicano during the fourth quarter valued at about $51,000. Finally, Rosenberg Matthew Hamilton increased its position in shares of Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays cut shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st.

Fomento Económico Mexicano Price Performance

Shares of FMX opened at $94.04 on Friday. The stock has a market cap of $33.65 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 5.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.07 and a fifty-two week high of $131.56. The firm’s 50-day simple moving average is $86.63 and its two-hundred day simple moving average is $93.54.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). The business had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 11.79%.

Fomento Económico 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.