Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC cut its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,981 shares of the company’s stock after selling 1,431 shares during the period. Janney Capital Management LLC’s holdings in Fomento Economico Mexicano were worth $8,339,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FMX. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fomento Economico Mexicano during the first quarter valued at about $29,000. Farther Finance Advisors LLC grew its stake in shares of Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after acquiring an additional 108 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Fomento Economico Mexicano during the first quarter valued at about $46,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fomento Economico Mexicano during the first quarter valued at about $51,000. Finally, Brooklyn Investment Group grew its stake in shares of Fomento Economico Mexicano by 112.4% during the first quarter. Brooklyn Investment Group now owns 722 shares of the company’s stock valued at $70,000 after acquiring an additional 382 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

Shares of NYSE FMX opened at $99.36 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $90.17 and its two-hundred day moving average price is $98.11. Fomento Economico Mexicano S.A.B. de C.V. has a 52-week low of $81.07 and a 52-week high of $108.74. The stock has a market capitalization of $35.55 billion, a P/E ratio of 33.80, a P/E/G ratio of 5.77 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. As a group, sell-side analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were issued a $1.3625 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.73. This represents a $5.45 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano’s dividend payout ratio is 74.83%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. Zacks Research downgraded Fomento Economico Mexicano from a “hold” rating to a “strong sell” rating in a research note on Friday, September 5th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $115.00 to $111.00 in a research note on Friday, September 19th. Barclays decreased their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Fomento Economico Mexicano from $95.00 to $96.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fomento Economico Mexicano has an average rating of “Hold” and an average target price of $100.97.

Fomento Economico 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.