BNP Paribas Financial Markets Decreases Stock Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• BNP Paribas Financial Markets reduced its stake in Fomento Economico Mexicano S.A.B. de C.V. by 25.5% during the first quarter, now owning 301,718 shares worth approximately $29.4 million.
• The company recently increased its quarterly dividend to $1.3625 per share, translating to an annual yield of 6.3%, up from the previous dividend of $0.73.
• Fomento Economico Mexicano reported $0.42 earnings per share for the last quarter, missing estimates, with a consensus target price of $105.16 from analysts.

BNP Paribas Financial Markets reduced its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 25.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,718 shares of the company's stock after selling 103,020 shares during the period. BNP Paribas Financial Markets owned approximately 0.08% of Fomento Economico Mexicano worth $29,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FMX. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano during the first quarter worth $29,000. Banque Transatlantique SA purchased a new stake in Fomento Economico Mexicano in the fourth quarter valued at $44,000. Alpine Bank Wealth Management purchased a new stake in Fomento Economico Mexicano in the first quarter valued at $46,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Economico Mexicano in the first quarter valued at $51,000. Finally, Brooklyn Investment Group boosted its holdings in Fomento Economico Mexicano by 112.4% in the first quarter. Brooklyn Investment Group now owns 722 shares of the company's stock valued at $70,000 after purchasing an additional 382 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on FMX. Morgan Stanley reaffirmed an "equal weight" rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Barclays dropped their target price on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Finally, UBS Group raised their target price on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $105.16.

Fomento Economico Mexicano Stock Performance

FMX traded down $0.21 on Friday, reaching $85.24. The stock had a trading volume of 596,522 shares, compared to its average volume of 1,043,307. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $81.07 and a 12-month high of $108.74. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The business's 50-day moving average price is $92.89 and its two-hundred day moving average price is $98.13. The company has a market cap of $30.50 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 5.00 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. Sell-side 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 quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were paid 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 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

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.