201,154 Shares in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 201,154 shares of the company's stock, valued at approximately $19,856,000. Public Employees Retirement System of Ohio owned about 0.06% of Fomento Económico Mexicano at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Oldfield Partners LLP raised its stake in Fomento Económico Mexicano by 0.8% during the second quarter. Oldfield Partners LLP now owns 13,300 shares of the company's stock worth $1,432,000 after purchasing an additional 100 shares during the period. Wealth Alliance increased its holdings in shares of Fomento Económico Mexicano by 4.4% during the 2nd quarter. Wealth Alliance now owns 3,510 shares of the company's stock worth $378,000 after buying an additional 147 shares during the last quarter. Stifel Financial Corp raised its position in shares of Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company's stock valued at $1,232,000 after buying an additional 149 shares during the period. Cerity Partners LLC lifted its holdings in Fomento Económico Mexicano by 2.0% in the third quarter. Cerity Partners LLC now owns 9,520 shares of the company's stock valued at $940,000 after acquiring an additional 191 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Fomento Económico Mexicano by 9.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock valued at $245,000 after acquiring an additional 204 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Performance

Shares of FMX remained flat at $89.32 during midday trading on Wednesday. The stock had a trading volume of 357,182 shares, compared to its average volume of 680,573. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $31.96 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 5.32 and a beta of 0.90. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $85.30 and a 1-year high of $143.43. The stock's 50-day moving average is $94.13 and its two-hundred day moving average is $103.26.

Fomento Económico Mexicano Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were issued a $0.864 dividend. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, October 16th. Fomento Económico Mexicano's dividend payout ratio (DPR) is currently 12.82%.

Analyst Ratings Changes

FMX has been the topic of a number of research analyst reports. Barclays reduced their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and upped their target price for the company from $104.00 to $109.00 in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.33.

Fomento Económico Mexicano Company 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.