Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co reduced its holdings in Fomento Economico Mexicano by 17.5%, selling 3,000 shares and now owning 14,132 shares valued at approximately $1.38 million.
• Several institutional investors have recently modified their stakes, with 61% of the stock now owned by hedge funds and other institutions.
• Despite a missed earnings estimate of $0.42 per share compared to the expected $0.91, Fomento Economico Mexicano has increased its dividend yield to 200% with a recent payout of $1.3625.

Fayez Sarofim & Co trimmed its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,132 shares of the company's stock after selling 3,000 shares during the period. Fayez Sarofim & Co's holdings in Fomento Economico Mexicano were worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management bought a new position in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $46,000. Banque Transatlantique SA purchased a new stake in shares of Fomento Economico Mexicano in the 4th quarter valued at $44,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Economico Mexicano during the first quarter worth $51,000. Parallel Advisors LLC boosted its holdings in Fomento Economico Mexicano by 56.2% during the first quarter. Parallel Advisors LLC now owns 831 shares of the company's stock worth $81,000 after buying an additional 299 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Fomento Economico Mexicano during the fourth quarter worth $72,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. UBS Group increased their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Finally, Barclays lowered their price objective on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fomento Economico Mexicano currently has an average rating of "Hold" and a consensus price target of $107.20.

Fomento Economico Mexicano Stock Up 0.2%

FMX stock traded up $0.20 during midday trading on Tuesday, reaching $86.42. 358,736 shares of the company were exchanged, compared to its average volume of 613,050. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $81.07 and a 1-year high of $114.33. The stock's 50-day simple moving average is $99.53 and its 200 day simple moving average is $98.42. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 4.10 and a beta of 0.66.

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 the consensus estimate of $0.91 by ($0.49). The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates 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 analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business 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 represents a dividend yield of 200.0%. The ex-dividend date was Thursday, July 17th. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's payout ratio is presently 74.83%.

About Fomento Economico 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.