Public Employees Retirement System of Ohio lessened its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Free Report) by 50.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,579 shares of the company’s stock after selling 91,172 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Fomento Economico Mexicano were worth $9,838,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Fomento Economico Mexicano during the first quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in Fomento Economico Mexicano by 2,006.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Fomento Economico Mexicano in the fourth quarter valued at approximately $50,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock worth $72,000 after acquiring an additional 499 shares during the period. Institutional investors own 61.00% of the company’s stock.
Fomento Economico Mexicano Stock Up 4.0%
Shares of NYSE:FMX opened at $132.23 on Tuesday. The company has a 50 day moving average price of $126.01 and a two-hundred day moving average price of $116.42. 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 company has a market capitalization of $45.69 billion, a PE ratio of 29.58, a PEG ratio of 0.69 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 $134.52.
Fomento Economico Mexicano Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.5%. The ex-dividend date was Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio is presently 54.36%.
Wall Street Analyst Weigh In
Several brokerages have commented on FMX. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. UBS Group raised their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Barclays lifted their price objective on Fomento Economico Mexicano from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Fomento Economico Mexicano has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.
View Our Latest Analysis on Fomento Economico Mexicano
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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