Price T Rowe Associates Inc. MD Reduces Stock Position in 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 lowered its stake 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 disclosure with the Securities and Exchange Commission. The fund owned 899,210 shares of the company's stock after selling 58,757 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.25% of Fomento Economico Mexicano worth $87,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FMX. Nuveen LLC purchased a new position in shares of Fomento Economico Mexicano during the 1st quarter worth $330,437,000. Talaria Asset Management Pty Ltd purchased a new position in shares of Fomento Economico Mexicano during the 4th quarter valued at $47,110,000. Asset Value Investors Ltd purchased a new position in shares of Fomento Economico Mexicano during the 4th quarter valued at $42,793,000. Nuveen Asset Management LLC lifted its stake in shares of Fomento Economico Mexicano by 25.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company's stock valued at $184,540,000 after buying an additional 437,699 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Fomento Economico Mexicano by 5.5% during the 4th quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock valued at $450,454,000 after buying an additional 274,467 shares in 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 opened at $88.1270 on Tuesday. 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 cap of $31.53 billion, a P/E ratio of 29.98, a P/E/G ratio of 5.20 and a beta of 0.66. The firm's fifty day moving average is $95.63 and its two-hundred day moving average is $98.41. 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.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings results 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). The company 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, analysts anticipate 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 announced a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were issued a $1.3625 dividend. 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 payout ratio is presently 74.83%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley restated an "equal weight" rating and set a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of "Hold" and an average target price of $105.16.

Fomento Economico Mexicano Company 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.

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