Public Employees Retirement System of Ohio Acquires New Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• Public Employees Retirement System of Ohio acquired 148,064 shares of FEMSA, valued at approximately $18.9 million. Institutional investors collectively own 61% of the company.
• Analyst sentiment remains positive but mixed, with a consensus “Moderate Buy” rating and an average price target of $131.43, compared with the stock’s $120.17 opening price.
• FEMSA increased its quarterly dividend to $1.827, representing a $7.31 annualized payout and a 6.1% yield. The company reported quarterly revenue of $13.2 billion and earnings of $0.93 per share.

Public Employees Retirement System of Ohio acquired a new position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 148,064 shares of the company's stock, valued at approximately $18,937,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FMX. AQR Capital Management LLC raised its holdings in shares of Fomento Economico Mexicano by 19.0% in the first 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 last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $35,000 after acquiring an additional 321 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Fomento Economico Mexicano during the 2nd quarter worth about $429,000. EverSource Wealth Advisors LLC raised its stake in Fomento Economico Mexicano by 61.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,156 shares of the company's stock valued at $119,000 after purchasing an additional 438 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Fomento Economico Mexicano in the 2nd quarter valued at about $504,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Fomento Economico Mexicano from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Wall Street Zen cut shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on Fomento Economico Mexicano in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased 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. Finally, UBS Group reaffirmed a "neutral" rating and issued a $139.00 price objective on shares of Fomento Economico Mexicano in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of "Moderate Buy" and an average target price of $131.43.

Fomento Economico Mexicano Stock Down 0.1%

Shares of NYSE FMX opened at $120.17 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $83.33 and a 52-week high of $141.47. The firm has a fifty day moving average of $125.17 and a 200-day moving average of $119.12. The stock has a market capitalization of $41.52 billion, a PE ratio of 24.03, a P/E/G ratio of 0.67 and a beta of 0.40. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.41.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. Fomento Economico Mexicano had a return on equity of 8.38% and a net margin of 3.60%.The business had revenue of $13.20 billion for the quarter. On average, analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 6.09 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a $1.827 dividend. The ex-dividend date was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 6.1%. Fomento Economico Mexicano's payout ratio is 48.60%.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Michael David Kahn acquired 2,100 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $118.13 per share, for a total transaction of $248,073.00. Following the completion of the purchase, the director directly owned 2,100 shares in the company, valued at $248,073. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.68% of the stock is currently owned by company insiders.

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.

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