Janney Capital Management LLC Sells 946 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Janney Capital Management LLC trimmed its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,685 shares of the company’s stock after selling 946 shares during the quarter. Janney Capital Management LLC’s holdings in Fomento Económico Mexicano were worth $8,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FMX. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Fomento Económico Mexicano by 5.8% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,507 shares of the company’s stock worth $2,518,000 after purchasing an additional 1,402 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Fomento Económico Mexicano by 201.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,822 shares of the company’s stock worth $5,510,000 after buying an additional 37,325 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Fomento Económico Mexicano in the 3rd quarter worth approximately $2,991,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Fomento Económico Mexicano by 9.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company’s stock valued at $245,000 after acquiring an additional 204 shares in the last quarter. Finally, Carrhae Capital LLP grew its holdings in shares of Fomento Económico Mexicano by 46.0% in the third quarter. Carrhae Capital LLP now owns 440,036 shares of the company’s stock valued at $43,436,000 after acquiring an additional 138,540 shares in the last quarter.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $96.74 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.44. The firm has a market cap of $34.61 billion, a PE ratio of 24.81, a PEG ratio of 5.47 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $94.86 and a 1 year high of $143.43. The stock’s fifty day moving average price is $100.10 and its two-hundred day moving average price is $108.63.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Finally, Barclays reduced their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $128.00.

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.