Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,843 shares of the company's stock after purchasing an additional 12,689 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Fomento Económico Mexicano worth $18,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in shares of Fomento Económico Mexicano by 20.5% in the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after acquiring an additional 2,150,913 shares during the period. Royal Bank of Canada lifted its position in Fomento Económico Mexicano by 5.5% in the fourth quarter. Royal Bank of Canada now owns 5,269,083 shares of the company's stock valued at $450,454,000 after purchasing an additional 274,467 shares during the period. Baillie Gifford & Co. boosted its holdings in Fomento Económico Mexicano by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company's stock valued at $369,786,000 after purchasing an additional 18,750 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Fomento Económico Mexicano by 20.4% in the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after purchasing an additional 717,666 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after purchasing an additional 205,981 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on FMX shares. Wall Street Zen downgraded Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. UBS Group boosted their target price on shares of Fomento Económico Mexicano from $107.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Barclays upped their price target on shares of Fomento Económico Mexicano from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $106.70.

Fomento Económico Mexicano Price Performance

FMX traded up $0.61 during trading on Thursday, reaching $107.46. 374,544 shares of the stock were exchanged, compared to its average volume of 617,357. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.08 and a 1 year high of $119.18. The company has a market capitalization of $38.45 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 5.26 and a beta of 0.69. The business's 50 day moving average price is $102.01 and its two-hundred day moving average price is $93.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $194.75 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. As a group, equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a $1.628 dividend. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.92. Fomento Económico Mexicano's payout ratio is currently 11.41%.

About Fomento Económico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.