Levin Capital Strategies L.P. Cuts Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Levin Capital Strategies L.P. cut its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 51.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,407 shares of the company's stock after selling 48,996 shares during the quarter. Levin Capital Strategies L.P.'s holdings in Fomento Económico Mexicano were worth $3,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in Fomento Económico Mexicano by 0.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock valued at $369,786,000 after buying an additional 18,750 shares during the last quarter. Perpetual Ltd raised its stake in Fomento Económico Mexicano by 23.8% in the fourth quarter. Perpetual Ltd now owns 924,669 shares of the company's stock valued at $79,050,000 after buying an additional 177,843 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Fomento Económico Mexicano by 12.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 654,778 shares of the company's stock valued at $55,977,000 after buying an additional 74,082 shares during the last quarter. Ninety One UK Ltd raised its stake in Fomento Económico Mexicano by 3.9% in the fourth quarter. Ninety One UK Ltd now owns 644,148 shares of the company's stock valued at $55,068,000 after buying an additional 23,902 shares during the last quarter. Finally, FMR LLC raised its stake in Fomento Económico Mexicano by 5.3% in the third quarter. FMR LLC now owns 491,582 shares of the company's stock valued at $48,524,000 after buying an additional 24,537 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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Fomento Económico Mexicano Price Performance

FMX traded up $2.12 during trading on Wednesday, hitting $95.16. The company's stock had a trading volume of 868,335 shares, compared to its average volume of 542,301. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $131.56. The business's fifty day simple moving average is $87.02 and its 200 day simple moving average is $93.14. The firm has a market capitalization of $34.05 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 5.26 and a beta of 0.90.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($1.05). The firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. On average, equities research analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano's previous dividend of $0.74. Fomento Económico Mexicano's payout ratio is currently 11.03%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMX. The Goldman Sachs Group reduced their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Barclays raised their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, StockNews.com upgraded Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th.

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.