Strs Ohio Sells 18,891 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Strs Ohio decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 276,691 shares of the company’s stock after selling 18,891 shares during the quarter. Strs Ohio owned approximately 0.08% of Fomento Economico Mexicano worth $30,729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fomento Economico Mexicano by 2,006.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. Tower Research Capital LLC TRC increased its holdings in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Fomento Economico Mexicano during the 4th quarter valued at about $50,000. Brown Brothers Harriman & Co. raised its position in Fomento Economico Mexicano by 220.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after purchasing an additional 499 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Price Performance

Shares of FMX opened at $129.24 on Friday. The stock has a market cap of $44.66 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $83.08 and a fifty-two week high of $131.81. The firm’s 50-day simple moving average is $122.74 and its two-hundred day simple moving average is $113.23.

Fomento Economico Mexicano (NYSE:FMX) last announced 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. Analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be given a dividend of $1.827 per share. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $7.31 dividend on an annualized basis and a yield of 5.7%. Fomento Economico Mexicano’s dividend payout ratio is 53.47%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FMX. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. 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 note on Thursday, May 28th. Finally, Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.67.

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.