Barings LLC Reduces Position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Key Points

• Barings LLC reduced its stake in Fomento Economico Mexicano by 31.2% in the first quarter, now owning 55,129 shares valued at approximately $5.38 million after selling 25,025 shares.
• Fomento Economico Mexicano reported $0.42 EPS for the quarter, missing analysts' estimates by ($0.49), with revenues of $11.27 billion against a consensus estimate of $216.71 billion.
• The company recently increased its dividend to $1.3625 per share, reflecting a yield of 200.0%, up from a previous dividend of $0.73.

Barings LLC lowered its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 31.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,129 shares of the company's stock after selling 25,025 shares during the period. Barings LLC's holdings in Fomento Economico Mexicano were worth $5,379,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Fomento Economico Mexicano in the 4th quarter valued at $44,000. Alpine Bank Wealth Management purchased a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $46,000. Banque Cantonale Vaudoise purchased a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Fomento Economico Mexicano in the fourth quarter valued at about $72,000. Finally, Parallel Advisors LLC increased its position in shares of Fomento Economico Mexicano by 56.2% in the first quarter. Parallel Advisors LLC now owns 831 shares of the company's stock valued at $81,000 after acquiring an additional 299 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

FMX stock traded down $1.56 during trading on Friday, hitting $88.90. 655,740 shares of the company's stock traded hands, compared to its average volume of 856,518. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $114.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. The business has a fifty day simple moving average of $101.82 and a 200 day simple moving average of $98.26. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 4.20 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. As a group, research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a -- dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were given a dividend of $1.3625 per share. This is a positive change from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 17th. This represents a yield of 200.0%. Fomento Economico Mexicano's payout ratio is 74.83%.

Analyst Ratings Changes

FMX has been the topic of a number of research reports. Itau BBA Securities raised shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Barclays dropped their price objective on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Fomento Economico Mexicano currently has a consensus rating of "Hold" and an average target price of $107.20.

Fomento Economico 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.