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

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

Analyst Ratings Changes

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

Fomento Económico Mexicano Stock Up 1.6%

Shares of Fomento Económico Mexicano stock opened at $106.93 on Friday. 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 52-week low of $81.08 and a 52-week high of $119.18. The company’s 50 day moving average price is $103.12 and its 200-day moving average price is $94.29. The stock has a market capitalization of $38.26 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 5.26 and a beta of 0.67.

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

Fomento Económico Mexicano Increases Dividend

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

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.