Gamco Investors INC. ET AL Reduces Stock Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Gamco Investors INC. ET AL trimmed its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,713 shares of the company’s stock after selling 6,146 shares during the period. Gamco Investors INC. ET AL’s holdings in Fomento Económico Mexicano were worth $13,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its holdings in shares of Fomento Económico Mexicano by 448.6% during the 4th quarter. Headlands Technologies LLC now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 166 shares during the period. Park Place Capital Corp boosted its position in Fomento Económico Mexicano by 78.2% in the first quarter. Park Place Capital Corp now owns 221 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Fomento Económico Mexicano during the 1st quarter valued at about $34,000. Van ECK Associates Corp increased its position in shares of Fomento Económico Mexicano by 48.6% during the 4th quarter. Van ECK Associates Corp now owns 318 shares of the company’s stock valued at $41,000 after purchasing an additional 104 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Fomento Económico Mexicano by 22.1% in the 4th quarter. Parallel Advisors LLC now owns 741 shares of the company’s stock worth $97,000 after purchasing an additional 134 shares during the period.

Fomento Económico Mexicano Price Performance

Shares of FMX traded up $1.30 during mid-day trading on Friday, reaching $109.57. The stock had a trading volume of 506,497 shares, compared to its average volume of 701,503. The business has a fifty day moving average of $111.82 and a 200 day moving average of $122.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.63 and a current ratio of 1.72. The firm has a market cap of $39.20 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 4.02 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $99.24 and a 12 month high of $143.43.

Fomento Económico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.47 EPS for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The business had revenue of $10.76 billion for the quarter. Equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.38 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 17th will be given a dividend of $1.0206 per share. The ex-dividend date is Wednesday, July 17th. This represents a dividend yield of 1.5%. This is a boost from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 14.63%.

Wall Street Analyst Weigh In

Separately, Barclays cut their target price on shares of Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano currently has a consensus rating of “Hold” and a consensus target price of $139.50.

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.