Beach Investment Counsel Inc. PA Lowers Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Beach Investment Counsel Inc. PA lessened its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,400 shares of the company’s stock after selling 1,150 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Fomento Económico Mexicano were worth $462,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stifel Financial Corp raised its stake in shares of Fomento Económico Mexicano by 1.2% during the third quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock valued at $1,232,000 after acquiring an additional 149 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 154 shares during the period. Rosenberg Matthew Hamilton raised its holdings in shares of Fomento Económico Mexicano by 30.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after acquiring an additional 176 shares in the last quarter. Cerity Partners LLC grew its holdings in Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after acquiring an additional 191 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Fomento Económico Mexicano by 29.7% in the 4th quarter. UMB Bank n.a. now owns 887 shares of the company’s stock valued at $76,000 after purchasing an additional 203 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FMX shares. The Goldman Sachs Group decreased 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 cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of “Moderate Buy” and an average price target of $119.20.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX opened at $86.93 on Tuesday. 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 $143.43. The company’s 50 day moving average is $86.26 and its 200 day moving average is $96.49. The company has a market cap of $31.10 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 4.92 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. The ex-dividend date of this dividend 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 11.79%.

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.