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

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its position in Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after acquiring an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Fomento Economico Mexicano during the 2nd quarter worth $40,000. Tower Research Capital LLC TRC increased its holdings in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Fomento Economico Mexicano in the 3rd quarter worth about $54,000. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FMX shares. Barclays reduced their price target on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.40.

Fomento Economico Mexicano Stock Up 0.7%

Fomento Economico Mexicano stock opened at $105.04 on Tuesday. The firm has a 50 day moving average price of $102.08 and a two-hundred day moving average price of $95.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $82.50 and a 52-week high of $108.97. The firm has a market cap of $37.34 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 3.98 and a beta of 0.43.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were issued a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.8%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 91.94%.

Fomento Economico Mexicano Profile

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.