Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Acquired by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas raised its stake in Fomento Economico Mexicano (NYSE:FMX) by 7.0% to 514,117 shares, worth about $50.7 million and representing roughly 0.14% of the company.
• FEMSA reported quarterly EPS of $0.92, missing the $1.50 consensus while revenue of $12.21 billion topped estimates, highlighting mixed operational results.
• The company increased its quarterly dividend to $2.0531 (annualized $8.21), implying a 7.6% dividend yield with a payout ratio of about 80%.

Employees Retirement System of Texas lifted its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,117 shares of the company's stock after buying an additional 33,762 shares during the period. Employees Retirement System of Texas owned approximately 0.14% of Fomento Economico Mexicano worth $50,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of FMX. Northwestern Mutual Wealth Management Co. raised its holdings in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Fomento Economico Mexicano during the 2nd quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its position in shares of Fomento Economico Mexicano by 42.5% in the second 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 in the last quarter. Mather Group LLC. acquired a new stake in shares of Fomento Economico Mexicano in the third quarter valued at approximately $54,000. Finally, MAI Capital Management increased its holdings in shares of Fomento Economico Mexicano by 131.1% in the second quarter. MAI Capital Management now owns 788 shares of the company's stock valued at $81,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Down 1.4%

FMX stock opened at $107.44 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $116.09. The firm has a market cap of $37.13 billion, a PE ratio of 37.70, a PEG ratio of 4.23 and a beta of 0.42. The firm's 50 day moving average price is $107.93 and its 200-day moving average price is $99.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The business had revenue of $12.21 billion during the quarter, compared to analysts' expectations of $11.98 billion. On average, equities research analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were given a dividend of $2.0531 per share. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $2.00. Fomento Economico Mexicano's dividend payout ratio is 80.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FMX shares. The Goldman Sachs Group boosted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, Barclays boosted their price target on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $108.83.

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.

Want to see what other hedge funds are holding FMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.