Gamco Investors INC. ET AL Sells 3,350 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Gamco Investors INC. ET AL has decreased its position in Fomento Economico Mexicano by 3.4%, selling 3,350 shares and now owns 95,711 shares valued at approximately $9.34 million.
• The company's EPS for the last quarter was $0.42, missing expectations of $0.91, and its stock price has seen a 1.2% decline.
• Fomento Economico Mexicano recently announced an increase in its dividend yield to 200.0%, with a new dividend payment of $1.3625 per share, up from $0.73.

Gamco Investors INC. ET AL decreased its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,711 shares of the company's stock after selling 3,350 shares during the period. Gamco Investors INC. ET AL's holdings in Fomento Economico Mexicano were worth $9,339,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its position in Fomento Economico Mexicano by 5.5% in the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock worth $450,454,000 after purchasing an additional 274,467 shares during the last quarter. Nuveen LLC purchased a new position in Fomento Economico Mexicano in the first quarter worth $330,437,000. Nuveen Asset Management LLC boosted its position in Fomento Economico Mexicano by 25.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company's stock worth $184,540,000 after purchasing an additional 437,699 shares during the last quarter. Perpetual Ltd boosted its position in Fomento Economico Mexicano by 5.7% in the first quarter. Perpetual Ltd now owns 977,342 shares of the company's stock worth $95,369,000 after purchasing an additional 52,673 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its position in Fomento Economico Mexicano by 12.7% in the first quarter. ANTIPODES PARTNERS Ltd now owns 919,722 shares of the company's stock worth $89,754,000 after purchasing an additional 103,983 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX traded down $1.16 during trading on Monday, reaching $86.52. 826,921 shares of the stock traded hands, compared to its average volume of 1,135,080. 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 S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $108.74. The stock has a market capitalization of $30.96 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 5.07 and a beta of 0.70. The company has a 50-day moving average of $94.46 and a 200-day moving average of $98.37.

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 (EPS) 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 company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. 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 disclosed a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a dividend of $1.3625 per share. This represents a $5.45 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FMX shares. Morgan Stanley reissued an "equal weight" rating and issued a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Barclays cut their price objective on 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. Finally, UBS Group upped their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $105.16.

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.