Levin Capital Strategies L.P. Sells 1,547 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Levin Capital Strategies L.P. lessened its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,926 shares of the company’s stock after selling 1,547 shares during the period. Fomento Económico Mexicano makes up about 1.4% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 22nd largest holding. Levin Capital Strategies L.P.’s holdings in Fomento Económico Mexicano were worth $13,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FMX. Headlands Technologies LLC increased its holdings in shares of Fomento Económico Mexicano by 448.6% in the 4th quarter. Headlands Technologies LLC now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 166 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Fomento Económico Mexicano in the 3rd quarter worth $29,000. Van ECK Associates Corp increased its holdings in shares of Fomento Económico Mexicano by 48.6% in the 4th quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock worth $41,000 after purchasing an additional 104 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Fomento Económico Mexicano in the third quarter worth $36,000. Finally, Systematic Alpha Investments LLC bought a new stake in shares of Fomento Económico Mexicano in the third quarter worth $147,000.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock traded down $0.09 during trading hours on Thursday, hitting $118.00. The stock had a trading volume of 317,103 shares, compared to its average volume of 708,016. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $95.49 and a one year high of $143.43. The company has a current ratio of 1.95, a quick ratio of 1.63 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $124.07 and its two-hundred day moving average price is $125.76.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Friday, February 23rd. The company reported $1.07 EPS for the quarter. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $11.21 billion. Fomento Económico Mexicano had a return on equity of 8.20% and a net margin of 2.91%. As a group, research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.52 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, April 29th. Stockholders of record on Wednesday, April 17th were given a dividend of $1.115 per share. This is an increase from Fomento Económico Mexicano’s previous annual dividend of $0.74. The ex-dividend date of this dividend was Tuesday, April 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio is presently 16.80%.

Analyst Ratings Changes

Several equities analysts recently weighed in on FMX shares. Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. UBS Group downgraded Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and lifted their target price for the company from $124.00 to $152.00 in a research report on Friday, February 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.75.

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.