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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its position in shares of Fomento Economico Mexicano by 17.3% in the first quarter. Natixis Advisors LLC now owns 60,214 shares of the company's stock valued at $5,876,000 after purchasing an additional 8,866 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $51,000. Ramirez Asset Management Inc. raised its position in shares of Fomento Economico Mexicano by 126.0% in the first quarter. Ramirez Asset Management Inc. now owns 25,767 shares of the company's stock valued at $2,514,000 after purchasing an additional 14,365 shares during the period. Mackenzie Financial Corp bought a new position in shares of Fomento Economico Mexicano in the first quarter valued at about $6,154,000. Finally, LPL Financial LLC raised its position in shares of Fomento Economico Mexicano by 22.3% in the first quarter. LPL Financial LLC now owns 17,599 shares of the company's stock valued at $1,717,000 after purchasing an additional 3,208 shares during the period. 61.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FMX has been the topic of several research analyst reports. UBS Group increased their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Barclays decreased their price target 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, July 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $107.20.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock traded down $1.10 during trading hours on Wednesday, reaching $88.07. 562,848 shares of the stock were exchanged, compared to its average volume of 602,067. The company has a market cap of $31.51 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 4.16 and a beta of 0.66. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $114.33. The stock has a 50 day moving average of $101.09 and a two-hundred day moving average of $98.24.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. Equities 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 disclosed a -- dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were issued a $1.3625 dividend. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a yield of 200.0%. Fomento Economico Mexicano's dividend payout ratio (DPR) is 74.83%.

Fomento Economico Mexicano 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.