Strs Ohio Raises Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Strs Ohio grew its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 8.5% during the third quarter, Holdings Channel reports. The institutional investor owned 319,300 shares of the company’s stock after buying an additional 25,000 shares during the period. Strs Ohio’s holdings in Fomento Economico Mexicano were worth $31,493,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Fomento Economico Mexicano by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 6,072 shares of the company’s stock worth $593,000 after acquiring an additional 969 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Fomento Economico Mexicano in the second quarter worth approximately $263,000. UMB Bank n.a. increased its stake in shares of Fomento Economico Mexicano by 25.3% in the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock worth $85,000 after purchasing an additional 166 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares during the period. Finally, Park Avenue Securities LLC raised its position in shares of Fomento Economico Mexicano by 4.6% during the 2nd quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock valued at $293,000 after purchasing an additional 125 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FMX has been the subject of several recent analyst reports. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Barclays lowered their price objective on Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.63.

Fomento Economico Mexicano Stock Up 0.6%

Shares of FMX stock opened at $106.80 on Friday. The company’s fifty day simple moving average is $100.61 and its two-hundred day simple moving average is $95.64. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $82.50 and a 52 week high of $108.74. The stock has a market cap of $37.98 billion, a P/E ratio of 43.07, a PEG ratio of 4.13 and a beta of 0.46. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. Analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be issued a dividend of $2.0531 per share. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.7%. Fomento Economico Mexicano’s payout ratio is currently 299.60%.

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.