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

Employees Retirement System of Texas reduced its stake in Fomento Economico Mexicano by 0.7% in Q2, owning 480,355 shares worth $49.47 million. Other investors adjusted their holdings, with INCA Investments increasing its stake by 106.1%. The stock opened at $93.98, with a 12-month range of $81.07-$108.74. Analysts have mixed ratings, with some upgrading to 'buy' and others maintaining 'hold'. The company increased its quarterly dividend to $1.9982, yielding 8.5% annually.

Employees Retirement System of Texas decreased its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,355 shares of the company's stock after selling 3,594 shares during the quarter. Employees Retirement System of Texas owned 0.13% of Fomento Economico Mexicano worth $49,467,000 at the end of the most recent quarter.

Coca-Cola EuroPacific Partners is a tasty play on Coke

A number of other large investors have also recently added to or reduced their stakes in FMX. INCA Investments LLC boosted its stake in shares of Fomento Economico Mexicano by 106.1% during the 2nd quarter. INCA Investments LLC now owns 274,769 shares of the company's stock worth $28,296,000 after purchasing an additional 141,419 shares during the last quarter. Royal Bank of Canada boosted its holdings in Fomento Economico Mexicano by 1.9% in the first quarter. Royal Bank of Canada now owns 5,369,981 shares of the company's stock valued at $524,003,000 after acquiring an additional 100,898 shares during the last quarter. Barings LLC raised its holdings in shares of Fomento Economico Mexicano by 31.7% in the 2nd quarter. Barings LLC now owns 72,617 shares of the company's stock worth $7,478,000 after purchasing an additional 17,488 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in shares of Fomento Economico Mexicano by 84.9% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 6,665 shares of the company's stock worth $686,000 after purchasing an additional 3,060 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in shares of Fomento Economico Mexicano during the 2nd quarter worth about $495,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Price Performance

FMX opened at $93.98 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $81.07 and a twelve month high of $108.74. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 5.54 and a beta of 0.70. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $95.12 and a 200 day simple moving average of $96.38.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.18). The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $215.60 billion. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%. Equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were issued a $1.9982 dividend. This is an increase from Fomento Economico Mexicano's previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Thursday, October 16th. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 89.92%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FMX shares. Barclays reduced their price target on shares of Fomento Economico Mexicano from $107.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, November 3rd. Citigroup upgraded shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their target price for the company from $93.00 to $97.00 in a report on Tuesday, September 9th. Morgan Stanley reiterated an "equal weight" rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Weiss Ratings reissued a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Fomento Economico Mexicano currently has an average rating of "Hold" and an average target price of $101.63.

View Our Latest Analysis on Fomento Economico Mexicano

Fomento Economico Mexicano Profile

(Free Report)

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.

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