Janney Capital Management LLC Decreases Stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

Janney Capital Management LLC lessened its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 0.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,412 shares of the company’s stock after selling 373 shares during the quarter. Janney Capital Management LLC’s holdings in Fomento Economico Mexicano were worth $8,042,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FMX. Banque Transatlantique SA bought a new stake in Fomento Economico Mexicano in the 4th quarter worth approximately $44,000. Parallel Advisors LLC increased its stake in shares of Fomento Economico Mexicano by 56.2% in the 1st quarter. Parallel Advisors LLC now owns 831 shares of the company’s stock worth $81,000 after acquiring an additional 299 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Fomento Economico Mexicano in the 4th quarter worth about $72,000. Janney Montgomery Scott LLC bought a new position in shares of Fomento Economico Mexicano in the 1st quarter worth about $207,000. Finally, Quantinno Capital Management LP bought a new position in shares of Fomento Economico Mexicano in the 4th quarter worth about $218,000. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. UBS Group raised their price objective on shares of Fomento Economico Mexicano from $107.00 to $112.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Barclays raised their price objective on shares of Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Finally, Itau BBA Securities upgraded shares of Fomento Economico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.70.

Fomento Economico Mexicano Trading Down 0.7%

Shares of FMX opened at $101.85 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.31 and a current ratio of 1.64. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $119.18. The stock has a market capitalization of $36.44 billion, a PE ratio of 22.78, a P/E/G ratio of 3.61 and a beta of 0.67. The company’s fifty day moving average is $104.42 and its 200 day moving average is $95.20.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. The firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. Sell-side analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a dividend of $1.628 per share. This is a positive change from Fomento Economico Mexicano’s previous dividend of $0.92. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, April 24th. Fomento Economico Mexicano’s payout ratio is currently 11.41%.

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.