State of New Jersey Common Pension Fund D Has $18.30 Million Position in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• State of New Jersey Common Pension Fund D trimmed its stake in Fomento Economico Mexicano (NYSE:FMX) by 4.5%, selling 8,619 shares and finishing the quarter with 181,075 shares worth about $18.30 million.
• Insiders have been net sellers recently: Director Garza sold 52,316 shares on March 25 and insiders sold a total of 261,575 shares (~$2.80 million) in the past 90 days, leaving insiders with roughly 5.68% ownership.
• Several analysts raised price targets and ratings (UBS, Goldman Sachs, JPMorgan, Wall Street Zen), but the consensus remains a Hold with a target of $113.17, while shares were trading around $118.35 (up ~5.7%).

State of New Jersey Common Pension Fund D trimmed its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,075 shares of the company's stock after selling 8,619 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Fomento Economico Mexicano were worth $18,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Strs Ohio lifted its position in Fomento Economico Mexicano by 8.5% in the 3rd quarter. Strs Ohio now owns 319,300 shares of the company's stock valued at $31,493,000 after acquiring an additional 25,000 shares in the last quarter. LBP AM SA lifted its position in Fomento Economico Mexicano by 22.1% in the 3rd quarter. LBP AM SA now owns 518,532 shares of the company's stock valued at $51,143,000 after acquiring an additional 93,997 shares in the last quarter. INCA Investments LLC lifted its position in Fomento Economico Mexicano by 34.6% in the 3rd quarter. INCA Investments LLC now owns 369,725 shares of the company's stock valued at $36,466,000 after acquiring an additional 94,956 shares in the last quarter. Northcape Capital Pty Ltd lifted its position in Fomento Economico Mexicano by 15.1% in the 4th quarter. Northcape Capital Pty Ltd now owns 448,439 shares of the company's stock valued at $46,279,000 after acquiring an additional 58,920 shares in the last quarter. Finally, Fundamenta Capital S.A. bought a new position in Fomento Economico Mexicano in the 4th quarter valued at about $13,527,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Garza Alfonso Garza sold 52,316 shares of Fomento Economico Mexicano stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total value of $579,138.12. Following the completion of the transaction, the director directly owned 1,233,080 shares in the company, valued at approximately $13,650,195.60. The trade was a 4.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 261,575 shares of company stock valued at $2,795,188. 5.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

FMX has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. UBS Group raised 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 lifted their target price on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of Fomento Economico Mexicano from a "hold" rating to a "buy" rating in a research report on Saturday, April 25th. Finally, Barclays lifted their target price on shares of Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Fomento Economico Mexicano currently has an average rating of "Hold" and a consensus target price of $113.17.

Fomento Economico Mexicano Trading Up 5.7%

Shares of FMX stock opened at $118.35 on Friday. The company has a 50 day moving average of $111.59 and a 200-day moving average of $104.63. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.39. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $119.21. The firm has a market cap of $40.89 billion, a P/E ratio of 41.53, a PEG ratio of 0.77 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. The company had revenue of $11.61 billion during the quarter. Sell-side analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 earnings per share for the current year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 22nd will be paid a $0.6658 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano's payout ratio is currently 83.86%.

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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