Beach Investment Counsel Inc. PA Sells 250 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Beach Investment Counsel Inc. PA cut its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,150 shares of the company’s stock after selling 250 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Fomento Económico Mexicano were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FMX. Wells Fargo & Company MN lifted its position in Fomento Económico Mexicano by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 28,135 shares of the company’s stock valued at $2,405,000 after buying an additional 4,096 shares during the period. American Century Companies Inc. increased its stake in shares of Fomento Económico Mexicano by 1.9% in the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock worth $21,389,000 after acquiring an additional 4,674 shares in the last quarter. Franklin Resources Inc. lifted its position in Fomento Económico Mexicano by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 3,117 shares of the company’s stock valued at $266,000 after acquiring an additional 125 shares during the period. Raymond James Financial Inc. bought a new stake in Fomento Económico Mexicano during the fourth quarter worth about $813,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Fomento Económico Mexicano by 77.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company’s stock worth $62,258,000 after purchasing an additional 317,887 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Price Performance

Shares of NYSE FMX opened at $106.93 on Friday. The firm has a market cap of $38.26 billion, a P/E ratio of 27.42, a PEG ratio of 5.26 and a beta of 0.67. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.08 and a twelve month high of $119.18. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $103.12 and a 200 day moving average of $94.29.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, research analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were given a $1.628 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.92. The ex-dividend date of this dividend was Thursday, April 24th. This represents a yield of 1.57%. Fomento Económico Mexicano’s payout ratio is 11.41%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FMX. Barclays lifted their target price on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Wall Street Zen cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. UBS Group increased their target price on Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Finally, Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.70.

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.