Employees Retirement System of Texas Sells 20,515 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Employees Retirement System of Texas reduced its stake in Fomento Economico Mexicano by 4.0% in the fourth quarter, selling 20,515 shares and leaving it with 493,602 shares valued at about $49.9 million.
• FMX reported quarterly earnings of $2.43 per share on revenue of $11.61 billion, and analysts expect the company to post 4.87 EPS for the current year.
• The company recently paid a quarterly dividend of $0.6658 per share, annualizing to $2.66 per share for a 2.2% yield, while analysts maintain a Moderate Buy consensus with a target price of $114.33.

Employees Retirement System of Texas lessened its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 493,602 shares of the company's stock after selling 20,515 shares during the quarter. Employees Retirement System of Texas' holdings in Fomento Economico Mexicano were worth $49,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FMX. Summitry LLC boosted its position in Fomento Economico Mexicano by 32.9% during the fourth quarter. Summitry LLC now owns 6,398 shares of the company's stock valued at $647,000 after buying an additional 1,584 shares during the period. Hantz Financial Services Inc. boosted its position in Fomento Economico Mexicano by 93.2% during the fourth quarter. Hantz Financial Services Inc. now owns 4,572 shares of the company's stock valued at $462,000 after buying an additional 2,205 shares during the period. EverSource Wealth Advisors LLC boosted its position in Fomento Economico Mexicano by 7.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company's stock valued at $134,000 after buying an additional 96 shares during the period. PNC Financial Services Group Inc. boosted its position in Fomento Economico Mexicano by 2.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,190 shares of the company's stock valued at $828,000 after buying an additional 216 shares during the period. Finally, Profund Advisors LLC boosted its position in Fomento Economico Mexicano by 6.9% during the fourth quarter. Profund Advisors LLC now owns 8,165 shares of the company's stock valued at $825,000 after buying an additional 527 shares during the period. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock opened at $122.01 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $115.26 and a 200-day moving average of $107.86. The firm has a market cap of $42.16 billion, a P/E ratio of 27.30, a P/E/G ratio of 0.83 and a beta of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a 1-year low of $83.08 and a 1-year high of $125.71.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The company had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. Sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 EPS for the current year.

Fomento Economico Mexicano Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd were issued a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Fomento Economico Mexicano's dividend payout ratio is currently 53.47%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a research report on Friday, March 20th. The Goldman Sachs Group upped their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. 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. Barclays upped their price target on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Fomento Economico Mexicano from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $114.33.

Insider Buying and Selling at Fomento Economico Mexicano

In other news, Director Garza Alfonso Garza sold 52,311 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares in the company, valued at approximately $12,627,389.07. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 261,575 shares of company stock worth $2,795,188 in the last ninety days. Corporate insiders own 5.68% of the company's stock.

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.

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