INCA Investments LLC Buys 94,956 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

INCA Investments LLC grew its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 34.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,725 shares of the company’s stock after acquiring an additional 94,956 shares during the period. Fomento Economico Mexicano accounts for 16.8% of INCA Investments LLC’s holdings, making the stock its 2nd largest position. INCA Investments LLC owned about 0.10% of Fomento Economico Mexicano worth $36,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Fomento Economico Mexicano by 309.6% during the second quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after purchasing an additional 1,296,194 shares during the period. Aberdeen Group plc increased its position in Fomento Economico Mexicano by 10.8% during the 2nd quarter. Aberdeen Group plc now owns 1,155,766 shares of the company’s stock worth $119,414,000 after buying an additional 112,813 shares during the period. Altrinsic Global Advisors LLC lifted its holdings in shares of Fomento Economico Mexicano by 52.4% during the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock worth $97,298,000 after buying an additional 324,781 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in shares of Fomento Economico Mexicano by 0.3% in the second quarter. ANTIPODES PARTNERS Ltd now owns 922,816 shares of the company’s stock valued at $95,039,000 after acquiring an additional 3,094 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Fomento Economico Mexicano by 11,692.3% in the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $105.04 on Tuesday. The firm’s 50 day simple moving average is $102.08 and its 200 day simple moving average is $95.81. The firm has a market capitalization of $37.34 billion, a price-to-earnings ratio of 42.35, a P/E/G ratio of 3.98 and a beta of 0.43. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano S.A.B. de C.V. has a 1 year low of $82.50 and a 1 year high of $108.97.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a dividend of $2.0531 per share. The ex-dividend date was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.8%. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. Fomento Economico Mexicano’s dividend payout ratio is currently 91.94%.

Analyst Upgrades and Downgrades

FMX has been the subject of several analyst reports. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Barclays cut their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.40.

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.