Employees Retirement System of Texas Has $41.60 Million Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Employees Retirement System of Texas raised its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,584 shares of the company’s stock after purchasing an additional 15,488 shares during the quarter. Employees Retirement System of Texas’ holdings in Fomento Económico Mexicano were worth $41,598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FMX. First Eagle Investment Management LLC grew its holdings in shares of Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock worth $1,081,939,000 after buying an additional 2,150,913 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Fomento Económico Mexicano by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,325,489 shares of the company’s stock worth $369,786,000 after acquiring an additional 18,750 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Fomento Económico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after purchasing an additional 717,666 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fomento Económico Mexicano by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company’s stock worth $276,832,000 after purchasing an additional 205,981 shares in the last quarter. Finally, FMR LLC boosted its holdings in Fomento Económico Mexicano by 540.3% during the fourth quarter. FMR LLC now owns 3,147,544 shares of the company’s stock worth $269,084,000 after purchasing an additional 2,655,962 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $96.77 on Monday. The company has a fifty day moving average price of $93.27 and a two-hundred day moving average price of $92.16. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $130.00. The stock has a market cap of $34.62 billion, a P/E ratio of 24.81, a P/E/G ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

Fomento Económico Mexicano (NYSE:FMX) last issued its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. As a group, equities analysts predict that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FMX shares. The Goldman Sachs Group lowered their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. UBS Group lifted their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Finally, Barclays upped their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $103.95.

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.