Price T Rowe Associates Inc. MD Sells 58,757 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Price T Rowe Associates Inc. MD decreased its holdings in Fomento Economico Mexicano by 6.1%, owning 899,210 shares valued at approximately $87.7 million.
• The company missed earnings expectations for the last quarter, reporting $0.42 EPS against a consensus estimate of $0.91, alongside revenue of $11.27 billion.
• Fomento Economico Mexicano recently raised its dividend from $0.73 to $1.3625 per share, reflecting a substantial dividend yield of 200.0%.

Price T Rowe Associates Inc. MD decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 899,210 shares of the company's stock after selling 58,757 shares during the period. Price T Rowe Associates Inc. MD owned about 0.25% of Fomento Economico Mexicano worth $87,746,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Fomento Economico Mexicano in the 1st quarter valued at approximately $29,000. Alpine Bank Wealth Management bought a new stake in shares of Fomento Economico Mexicano in the first quarter worth $46,000. Banque Transatlantique SA bought a new stake in Fomento Economico Mexicano during the 4th quarter worth about $44,000. Banque Cantonale Vaudoise bought a new stake in Fomento Economico Mexicano during the 1st quarter worth about $51,000. Finally, Brooklyn Investment Group lifted its position in Fomento Economico Mexicano by 112.4% during the 1st quarter. Brooklyn Investment Group now owns 722 shares of the company's stock worth $70,000 after buying an additional 382 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock traded down $1.16 on Friday, reaching $86.52. The stock had a trading volume of 826,921 shares, compared to its average volume of 1,135,080. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The firm's 50-day moving average is $94.46 and its two-hundred day moving average is $98.37. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 5.07 and a beta of 0.70. 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.

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 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%. On average, research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a $1.3625 dividend. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 17th. This represents a $5.45 dividend on an annualized basis and a yield of 6.3%. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 74.83%.

Wall Street Analyst Weigh In

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

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.