Strs Ohio decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) by 6.4% during the first quarter, HoldingsChannel.com reports. The firm owned 276,691 shares of the company’s stock after selling 18,891 shares during the quarter. Strs Ohio’s holdings in Fomento Economico Mexicano were worth $30,729,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Fomento Economico Mexicano by 7.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after purchasing an additional 96 shares during the last quarter. UMB Bank n.a. raised its holdings in Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after buying an additional 96 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Arax Advisory Partners lifted its stake in shares of Fomento Economico Mexicano by 20.1% in the fourth quarter. Arax Advisory Partners now owns 812 shares of the company’s stock worth $82,000 after buying an additional 136 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Fomento Economico Mexicano by 5.1% during the fourth quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after buying an additional 144 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. UBS Group increased their target price on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.67.
Fomento Economico Mexicano Price Performance
FMX opened at $129.24 on Friday. The company’s 50-day simple moving average is $122.74 and its two-hundred day simple moving average is $113.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The stock has a market capitalization of $44.66 billion, a P/E ratio of 28.91, a P/E/G ratio of 0.70 and a beta of 0.41. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.08 and a 52-week high of $131.81.
Fomento Economico Mexicano (NYSE:FMX – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The firm had revenue of $11.61 billion during the quarter. As a group, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current year.
Fomento Economico Mexicano Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be issued a $1.827 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.7%. The ex-dividend date is Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.
Fomento Economico Mexicano Company 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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