Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA reduced its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 5,400 shares of the company’s stock after selling 1,150 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Fomento Económico Mexicano were worth $462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FMX. Sanctuary Advisors LLC acquired a new position in shares of Fomento Económico Mexicano during the 2nd quarter valued at about $577,000. Perpetual Ltd increased its holdings in shares of Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after buying an additional 64,291 shares during the last quarter. Northcape Capital Pty Ltd lifted its holdings in Fomento Económico Mexicano by 0.9% in the third quarter. Northcape Capital Pty Ltd now owns 346,169 shares of the company’s stock valued at $34,170,000 after acquiring an additional 3,125 shares during the last quarter. Blue Trust Inc. grew its position in Fomento Económico Mexicano by 71.1% in the third quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $725,000 after acquiring an additional 2,801 shares during the period. Finally, Carrhae Capital LLP increased its position in shares of Fomento Económico Mexicano by 46.0% during the 3rd quarter. Carrhae Capital LLP now owns 440,036 shares of the company’s stock worth $43,436,000 after purchasing an additional 138,540 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Stock Up 2.4 %

FMX stock opened at $86.93 on Tuesday. The company has a 50 day moving average price of $86.26 and a two-hundred day moving average price of $96.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The stock has a market capitalization of $31.10 billion, a P/E ratio of 22.32, a PEG ratio of 4.92 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.07 and a one year high of $143.43.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is 11.79%.

Wall Street Analyst Weigh In

A number of research analysts have commented on FMX shares. Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group reduced their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.20.

About Fomento Económico 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.