Strs Ohio Sells 23,718 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Strs Ohio cut its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 295,582 shares of the company’s stock after selling 23,718 shares during the quarter. Strs Ohio’s holdings in Fomento Economico Mexicano were worth $29,874,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FMX. ANTIPODES PARTNERS Ltd boosted its stake in Fomento Economico Mexicano by 24.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock valued at $112,928,000 after acquiring an additional 222,064 shares in the last quarter. Invesco Ltd. boosted its position in shares of Fomento Economico Mexicano by 67.8% in the 3rd quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock worth $103,256,000 after purchasing an additional 423,073 shares in the last quarter. Bank of America Corp DE grew its stake in Fomento Economico Mexicano by 21.2% during the 3rd quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock worth $74,780,000 after buying an additional 132,440 shares during the last quarter. AQR Capital Management LLC increased its position in Fomento Economico Mexicano by 11,692.3% during the 2nd quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after buying an additional 709,957 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Fomento Economico Mexicano by 9.8% during the 3rd quarter. Lazard Asset Management LLC now owns 675,809 shares of the company’s stock valued at $66,655,000 after buying an additional 60,101 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Up 1.5%

Fomento Economico Mexicano stock opened at $120.00 on Friday. The stock has a market capitalization of $41.46 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 0.82 and a beta of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $83.08 and a 12 month high of $120.65. The business has a 50 day simple moving average of $111.59 and a 200-day simple moving average of $104.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. The business had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.63% and a net margin of 3.40%. On average, analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.2%. Fomento Economico Mexicano’s dividend payout ratio is currently 83.86%.

Insider Transactions at Fomento Economico Mexicano

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,311 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total value of $585,360.09. Following the transaction, the director owned 1,128,453 shares of the company’s stock, valued at $12,627,389.07. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 261,575 shares of company stock valued at $2,795,188. 5.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of recent analyst reports. UBS Group lifted their target price on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. JPMorgan Chase & Co. upped their price target on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Barclays boosted their price objective on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.17.

About Fomento Economico Mexicano

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.