Public Employees Retirement System of Ohio Has $9.84 Million Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Public Employees Retirement System of Ohio trimmed its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 50.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings 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 worth $134,000 after buying an additional 96 shares during the period. UMB Bank n.a. boosted its holdings in shares of Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after buying an additional 96 shares during the period. Tower Research Capital LLC TRC boosted its holdings 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 valued at $45,000 after buying an additional 131 shares during the period. HB Wealth Management LLC increased its position in shares of Fomento Economico Mexicano by 5.8% during the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company’s stock worth $277,000 after acquiring an additional 136 shares in the last quarter. Finally, Arax Advisory Partners increased its position in shares of Fomento Economico Mexicano by 20.1% during the fourth quarter. Arax Advisory Partners now owns 812 shares of the company’s stock worth $82,000 after acquiring an additional 136 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico Mexicano Stock Performance

Shares of FMX stock opened at $132.23 on Tuesday. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $134.52. The company’s fifty day simple moving average is $126.01 and its 200-day simple moving average is $116.42. The firm has a market cap of $45.69 billion, a PE ratio of 29.58, a P/E/G ratio of 0.69 and a beta of 0.41. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The business had revenue of $11.61 billion during the quarter. Equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a dividend yield of 5.5%. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 54.36%.

Wall Street Analyst Weigh In

Several research firms recently commented on FMX. Wall Street Zen cut shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. increased 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. UBS Group lifted their price target 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. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Fomento Economico Mexicano has an average rating of “Moderate Buy” and an average target price of $119.50.

Fomento Economico Mexicano 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.