Janney Montgomery Scott LLC Has $8.73 Million Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Janney Montgomery Scott LLC grew its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 3,193.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,605 shares of the company’s stock after buying an additional 76,218 shares during the period. Janney Montgomery Scott LLC’s holdings in Fomento Economico Mexicano were worth $8,730,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Fomento Economico Mexicano by 11,692.3% in the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after acquiring an additional 709,957 shares in the last quarter. Victory Capital Management Inc. raised its stake in Fomento Economico Mexicano by 12,960.1% in the 3rd quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock worth $59,176,000 after purchasing an additional 595,388 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Fomento Economico Mexicano in the 3rd quarter valued at about $50,343,000. Invesco Ltd. boosted its holdings in Fomento Economico Mexicano by 67.8% in the 3rd quarter. Invesco Ltd. now owns 1,046,906 shares of the company’s stock valued at $103,256,000 after purchasing an additional 423,073 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in Fomento Economico Mexicano in the 4th quarter valued at about $41,408,000. Institutional investors own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Down 0.1%

Shares of Fomento Economico Mexicano stock opened at $129.24 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $83.08 and a 12-month high of $131.81. The company has a market capitalization of $44.66 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 0.70 and a beta of 0.41. The firm’s 50-day moving average price is $122.74 and its two-hundred day moving average price is $113.23.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, March 31st. The company reported $2.43 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. The company had revenue of $11.61 billion during the quarter. On average, analysts forecast that Fomento Economico Mexicano S.A.B. de C.V. will post 6.19 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.827 per share. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 annualized dividend and a yield of 5.7%. The ex-dividend date is Wednesday, July 15th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is presently 53.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FMX. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. UBS Group boosted their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research raised Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. Finally, Barclays lifted their price objective on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.67.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.