Fomento Economico Mexicano S.A.B. de C.V. $FMX is Cook & Bynum Capital Management LLC's 3rd Largest Position

Key Points

• Cook & Bynum Capital Management LLC reduced its holdings in Fomento Economico Mexicano by 5.9%, selling 14,562 shares, and now owns 233,445 shares, comprising about 17.8% of its investment portfolio.
• Fomento Economico Mexicano's recent earnings reported $0.42 per share, falling short of analysts' expectations of $0.91 per share, with the company recording $11.27 billion in revenue.
• The company recently announced an increase in its quarterly dividend from $0.73 to $1.3625, with a resulting annualized yield of 6.5%.

Cook & Bynum Capital Management LLC trimmed its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,445 shares of the company's stock after selling 14,562 shares during the period. Fomento Economico Mexicano makes up approximately 17.8% of Cook & Bynum Capital Management LLC's portfolio, making the stock its 3rd biggest holding. Cook & Bynum Capital Management LLC owned approximately 0.07% of Fomento Economico Mexicano worth $22,780,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Fomento Economico Mexicano in the first quarter worth approximately $29,000. Alpine Bank Wealth Management bought a new position in shares of Fomento Economico Mexicano in the first quarter worth approximately $46,000. Banque Cantonale Vaudoise bought a new position in shares of Fomento Economico Mexicano in the first quarter worth approximately $51,000. Brooklyn Investment Group increased its position in shares of Fomento Economico Mexicano by 112.4% in the first quarter. Brooklyn Investment Group now owns 722 shares of the company's stock worth $70,000 after purchasing an additional 382 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Fomento Economico Mexicano by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 785 shares of the company's stock worth $79,000 after purchasing an additional 321 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Trading Down 0.2%

NYSE:FMX traded down $0.16 during trading hours on Tuesday, hitting $86.63. The company had a trading volume of 460,181 shares, compared to its average volume of 669,028. The company has a market capitalization of $31.00 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 5.00 and a beta of 0.70. The stock has a 50-day moving average price of $92.57 and a 200 day moving average price of $98.16. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $108.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.49). The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. On average, equities research analysts predict 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 company also recently disclosed a quarterly 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 an increase from Fomento Economico Mexicano's previous quarterly dividend of $0.73. This represents a $5.45 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's payout ratio is 74.83%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays decreased 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 report on Thursday, July 31st. UBS Group increased their price target 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. Zacks Research cut shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday. Morgan Stanley reiterated an "equal weight" rating and set a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Finally, Citigroup upgraded shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and increased their price target for the company from $93.00 to $97.00 in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $103.80.

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.