JPMorgan Chase & Co. Sells 704,027 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• JPMorgan Chase & Co. has reduced its stake in Fomento Economico Mexicano by 21.7%, ending the first quarter with a total of $247.28 million invested in the company.
• Institutional investors collectively own 61.00% of Fomento Economico Mexicano, indicating significant institutional interest in the firm.
• The company has recently increased its dividend from $0.73 to $1.3625, reflecting a strong yield of 200.0%.

JPMorgan Chase & Co. lessened its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 21.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,534,150 shares of the company's stock after selling 704,027 shares during the quarter. JPMorgan Chase & Co. owned about 0.71% of Fomento Economico Mexicano worth $247,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LPL Financial LLC boosted its holdings in Fomento Economico Mexicano by 93.7% in the fourth quarter. LPL Financial LLC now owns 14,391 shares of the company's stock worth $1,230,000 after purchasing an additional 6,960 shares during the last quarter. Franklin Resources Inc. grew its stake in Fomento Economico Mexicano by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock valued at $266,000 after acquiring an additional 125 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Fomento Economico Mexicano by 17.0% in the 4th quarter. Wells Fargo & Company MN now owns 28,135 shares of the company's stock worth $2,405,000 after buying an additional 4,096 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Fomento Economico Mexicano by 15.4% in the 4th quarter. Cerity Partners LLC now owns 10,983 shares of the company's stock worth $939,000 after buying an additional 1,463 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Fomento Economico Mexicano by 73.7% during the 4th quarter. Invesco Ltd. now owns 405,757 shares of the company's stock worth $34,688,000 after purchasing an additional 172,186 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Down 0.1%

Shares of NYSE:FMX traded down $0.08 during trading hours on Monday, hitting $85.17. The company's stock had a trading volume of 584,027 shares, compared to its average volume of 639,074. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $114.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. The company has a market capitalization of $30.47 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 4.02 and a beta of 0.66. The firm's fifty day moving average price is $97.90 and its 200 day moving average price is $98.40.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. As a group, research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a -- 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 is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a dividend yield of 200.0%. Fomento Economico Mexicano's dividend payout ratio (DPR) is presently 74.83%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays dropped their price target 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. UBS Group lifted their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $107.20.

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.