Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Schroder Investment Management Group

Key Points

• Schroder Investment Management Group trimmed its stake by 12.4%, selling 465,698 shares and leaving it with 3,290,311 shares (about 0.92% of FMX) valued at ~$326.8 million.
• FEMSA missed quarterly EPS at $0.92 versus $1.50 consensus while revenue of $12.21 billion topped estimates; analysts are mixed with an average "Hold" rating and $108.83 target, though Goldman raised its target to $128.
• Dividend increased to $2.0531 per quarter, equivalent to an $8.21 annualized payout and a ~7.5% yield, with a dividend payout ratio around 80%.

Schroder Investment Management Group trimmed its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,290,311 shares of the company's stock after selling 465,698 shares during the period. Schroder Investment Management Group owned approximately 0.92% of Fomento Economico Mexicano worth $326,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its stake in Fomento Economico Mexicano by 5.5% during the third quarter. Natixis Advisors LLC now owns 133,153 shares of the company's stock valued at $13,133,000 after buying an additional 6,940 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Fomento Economico Mexicano by 32.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,999 shares of the company's stock valued at $1,479,000 after purchasing an additional 3,705 shares in the last quarter. Ramirez Asset Management Inc. grew its stake in shares of Fomento Economico Mexicano by 5.9% in the 3rd quarter. Ramirez Asset Management Inc. now owns 27,344 shares of the company's stock worth $2,697,000 after purchasing an additional 1,531 shares during the last quarter. Barclays PLC grew its stake in shares of Fomento Economico Mexicano by 10.1% in the 3rd quarter. Barclays PLC now owns 150,919 shares of the company's stock worth $14,885,000 after purchasing an additional 13,792 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of Fomento Economico Mexicano by 4.7% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,414 shares of the company's stock worth $633,000 after purchasing an additional 287 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FMX has been the topic of several recent research reports. Barclays lifted their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $108.83.

Fomento Economico Mexicano Stock Up 0.6%

Shares of NYSE:FMX opened at $109.55 on Monday. The firm has a 50 day simple moving average of $107.34 and a 200 day simple moving average of $99.39. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $116.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The company has a market cap of $37.85 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 4.25 and a beta of 0.42.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). The firm had revenue of $12.21 billion for the quarter, compared to analyst estimates of $11.98 billion. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. As a group, research analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a $2.0531 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a yield of 7.5%. This is an increase from Fomento Economico Mexicano's previous quarterly dividend of $2.00. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 80.00%.

Fomento Economico Mexicano Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA's operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company's business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company's retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.

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