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

Employees Retirement System of Texas lifted its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,584 shares of the company’s stock after purchasing an additional 15,488 shares during the period. Employees Retirement System of Texas owned 0.14% of Fomento Económico Mexicano worth $41,598,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in shares of Fomento Económico Mexicano in the 4th quarter valued at $225,000. Sarasin & Partners LLP boosted its holdings in Fomento Económico Mexicano by 33.3% in the fourth quarter. Sarasin & Partners LLP now owns 20,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 5,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Fomento Económico Mexicano by 141.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 135,003 shares of the company’s stock worth $11,541,000 after purchasing an additional 79,181 shares during the period. Stifel Financial Corp raised its holdings in Fomento Económico Mexicano by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 12,479 shares of the company’s stock worth $1,232,000 after purchasing an additional 149 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Fomento Económico Mexicano by 1.9% during the 4th quarter. American Century Companies Inc. now owns 250,188 shares of the company’s stock valued at $21,389,000 after purchasing an additional 4,674 shares during the period. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

FMX has been the subject of several analyst reports. UBS Group lifted their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Barclays lifted their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group cut their price target on 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $103.95.

Fomento Económico Mexicano Stock Performance

Shares of NYSE:FMX opened at $96.77 on Monday. The firm’s 50 day simple moving average is $93.27 and its 200 day simple moving average is $92.16. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $130.00. The company has a market capitalization of $34.62 billion, a price-to-earnings 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 posted its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. As a group, sell-side analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. The ex-dividend date was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is currently 11.03%.

About Fomento Económico Mexicano

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.