Strs Ohio Purchases 25,000 Shares of Fomento Economico Mexicano S.A.B. de C.V. $FMX

Strs Ohio grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 319,300 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Strs Ohio owned 0.09% of Fomento Economico Mexicano worth $31,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Fomento Economico Mexicano by 4.6% during the second quarter. Park Avenue Securities LLC now owns 2,850 shares of the company’s stock valued at $293,000 after purchasing an additional 125 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Fomento Economico Mexicano by 25.3% during the second quarter. UMB Bank n.a. now owns 821 shares of the company’s stock valued at $85,000 after buying an additional 166 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in Fomento Economico Mexicano by 6.2% in the 2nd quarter. Yousif Capital Management LLC now owns 3,437 shares of the company’s stock worth $354,000 after buying an additional 200 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX opened at $106.80 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $37.98 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The firm’s 50 day moving average price is $100.61 and its 200-day moving average price is $95.64. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $82.50 and a twelve month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $215.60 billion. Equities research analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Friday, January 16th will be paid a $2.0531 dividend. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.7%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 299.60%.

Analyst Upgrades and Downgrades

FMX has been the topic of several research analyst reports. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Barclays decreased their price objective on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.63.

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.