Public Employees Retirement System of Ohio Makes New Investment in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Public Employees Retirement System of Ohio acquired a new stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 201,154 shares of the company’s stock, valued at approximately $19,856,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano in the 2nd quarter valued at about $51,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fomento Económico Mexicano during the third quarter worth approximately $55,000. Van ECK Associates Corp raised its holdings in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after acquiring an additional 306 shares in the last quarter. CWM LLC grew its holdings in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after acquiring an additional 213 shares in the last quarter. Finally, Fielder Capital Group LLC acquired a new position in Fomento Económico Mexicano during the 2nd quarter worth approximately $242,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Económico Mexicano Stock Down 1.6 %

Fomento Económico Mexicano stock opened at $89.26 on Wednesday. The stock has a 50-day simple moving average of $94.33 and a 200-day simple moving average of $103.45. The company has a market capitalization of $31.94 billion, a P/E ratio of 22.90, a PEG ratio of 5.32 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $85.30 and a fifty-two week high of $143.43.

Fomento Económico Mexicano Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 12.82%.

Analyst Ratings Changes

Several research firms have recently issued reports on FMX. JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $104.00 to $109.00 in a research report on Monday, September 23rd. Barclays lowered their price objective on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.33.

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.