Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Shares Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas boosted its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 64.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 471,096 shares of the company's stock after acquiring an additional 184,000 shares during the period. Employees Retirement System of Texas owned about 0.13% of Fomento Económico Mexicano worth $50,713,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Councilmark Asset Management LLC acquired a new stake in shares of Fomento Económico Mexicano in the first quarter worth approximately $1,155,000. Manning & Napier Advisors LLC purchased a new stake in shares of Fomento Económico Mexicano during the 2nd quarter valued at $2,994,000. Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of Fomento Económico Mexicano by 29.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 24,105 shares of the company's stock worth $2,595,000 after buying an additional 5,505 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Fomento Económico Mexicano by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company's stock worth $32,640,000 after buying an additional 5,796 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Fomento Económico Mexicano by 67.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,862 shares of the company's stock worth $308,000 after purchasing an additional 1,151 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their price target for the company from $104.00 to $109.00 in a report on Monday. StockNews.com downgraded Fomento Económico Mexicano from a "buy" rating to a "hold" rating in a report on Monday. Finally, Barclays decreased their price target on Fomento Económico Mexicano from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Fomento Económico Mexicano presently has a consensus rating of "Hold" and a consensus price target of $133.40.

Fomento Económico Mexicano Stock Up 0.4 %

Shares of NYSE:FMX traded up $0.44 during trading on Thursday, hitting $100.60. The company's stock had a trading volume of 41,086 shares, compared to its average volume of 690,141. The company has a market capitalization of $35.99 billion, a PE ratio of 27.30, a PEG ratio of 5.75 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $98.97 and a fifty-two week high of $143.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. The stock's 50-day moving average price is $107.02 and its two-hundred day moving average price is $114.09.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The company had revenue of $11.54 billion for the quarter. As a group, sell-side analysts expect that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.39 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 17th were issued a dividend of $1.0206 per share. This is a positive change from Fomento Económico Mexicano's previous semi-annual dividend of $0.74. This represents a yield of 1.5%. The ex-dividend date was Wednesday, July 17th. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 14.36%.

Fomento Económico Mexicano Profile

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.