INCA Investments LLC Has $23.35 Million Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

INCA Investments LLC increased its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,565 shares of the company's stock after acquiring an additional 26,414 shares during the quarter. Fomento Económico Mexicano comprises approximately 10.0% of INCA Investments LLC's portfolio, making the stock its 5th biggest position. INCA Investments LLC owned 0.07% of Fomento Económico Mexicano worth $23,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fomento Económico Mexicano in the second quarter worth $51,000. Van ECK Associates Corp lifted its position in Fomento Económico Mexicano by 61.7% during the third quarter. Van ECK Associates Corp now owns 802 shares of the company's stock valued at $78,000 after buying an additional 306 shares during the period. CWM LLC lifted its position in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company's stock valued at $103,000 after buying an additional 213 shares during the period. Contravisory Investment Management Inc. purchased a new position in Fomento Económico Mexicano during the second quarter valued at $163,000. Finally, EverSource Wealth Advisors LLC lifted its position in Fomento Económico Mexicano by 8.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock valued at $167,000 after buying an additional 105 shares during the period.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays lowered their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $128.25.

Fomento Económico Mexicano Stock Down 3.2 %

Shares of NYSE:FMX traded down $3.06 on Tuesday, hitting $93.14. 417,118 shares of the company traded hands, compared to its average volume of 684,853. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $93.00 and a 52 week high of $143.43. The stock has a 50 day simple moving average of $99.23 and a 200-day simple moving average of $107.68. The company has a market cap of $33.32 billion, a PE ratio of 24.68, a PEG ratio of 5.67 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were issued a $0.864 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano's payout ratio is 12.82%.

Fomento Económico Mexicano Company 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.