Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd decreased its stake in Fomento Economico Mexicano by 3.8%, retaining 596,665 shares valued at approximately $61.4 million.
• Fomento Economico Mexicano's quarterly earnings report revealed an EPS of $0.42, missing the consensus estimate by $0.49.
• The company recently declared a dividend increase to $1.3625 per share, resulting in an annual yield of 5.5% for investors.

Ninety One UK Ltd reduced its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 596,665 shares of the company's stock after selling 23,812 shares during the period. Ninety One UK Ltd owned 0.17% of Fomento Economico Mexicano worth $61,445,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after buying an additional 108 shares during the period. Stephens Inc. AR increased its position in shares of Fomento Economico Mexicano by 2.1% in the first quarter. Stephens Inc. AR now owns 5,937 shares of the company's stock worth $579,000 after acquiring an additional 121 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Fomento Economico Mexicano by 4.6% in the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company's stock worth $293,000 after acquiring an additional 125 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 25.3% in the 2nd quarter. UMB Bank n.a. now owns 821 shares of the company's stock valued at $85,000 after acquiring an additional 166 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at $29,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FMX. Morgan Stanley reiterated 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. Zacks Research downgraded Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. 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. Citigroup raised Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $100.97.

Fomento Economico Mexicano Trading Down 0.6%

Shares of FMX opened at $98.74 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $81.07 and a one year high of $108.74. The stock has a 50-day moving average price of $90.18 and a 200 day moving average price of $98.11. 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 company has a market capitalization of $35.33 billion, a P/E ratio of 33.59, a P/E/G ratio of 5.82 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted 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). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The business had revenue of $11.27 billion for 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 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly 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 quarterly dividend of $0.73. This represents a $5.45 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.