State of New Jersey Common Pension Fund D Trims Stake in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Fomento Economico Mexicano by 1.7%, owning approximately 0.05% of the company valued at $19.5 million after selling 3,358 shares.
• Fomento Economico Mexicano recently increased its quarterly dividend to $1.9982 per share, representing an annualized yield of 8.4%.
• Analyst ratings for Fomento Economico Mexicano vary, with a consensus average rating of "Hold" and a target price of $101.97, reflecting a mix of buy, hold, and sell ratings from different equity research firms.

State of New Jersey Common Pension Fund D cut its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,694 shares of the company's stock after selling 3,358 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Fomento Economico Mexicano worth $19,535,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Fomento Economico Mexicano during the 1st quarter worth approximately $207,000. Keybank National Association OH boosted its holdings in Fomento Economico Mexicano by 1.9% during the first quarter. Keybank National Association OH now owns 18,761 shares of the company's stock worth $1,831,000 after buying an additional 353 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Fomento Economico Mexicano by 29.3% during the first quarter. Crossmark Global Holdings Inc. now owns 26,359 shares of the company's stock valued at $2,572,000 after buying an additional 5,977 shares during the period. Cerity Partners LLC increased its holdings in Fomento Economico Mexicano by 25.4% in the first quarter. Cerity Partners LLC now owns 13,778 shares of the company's stock valued at $1,344,000 after buying an additional 2,795 shares in the last quarter. Finally, Genus Capital Management Inc. increased its holdings in Fomento Economico Mexicano by 183.7% in the first quarter. Genus Capital Management Inc. now owns 2,903 shares of the company's stock valued at $283,000 after buying an additional 6,372 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of 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 lowered their price target for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Weiss Ratings restated a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research report on Saturday. Morgan Stanley reaffirmed 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. Finally, JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $101.97.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock opened at $95.52 on Friday. The stock has a market capitalization of $34.18 billion, a P/E ratio of 32.49, a PEG ratio of 5.59 and a beta of 0.72. The business has a 50 day simple moving average of $92.03 and a two-hundred day simple moving average of $97.75. Fomento Economico Mexicano S.A.B. de C.V. has a 12 month low of $81.07 and a 12 month high of $108.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%. As a group, analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 16th will be given a dividend of $1.9982 per share. The ex-dividend date is Thursday, October 16th. This is a boost from Fomento Economico Mexicano's previous quarterly dividend of $1.36. This represents a $7.99 dividend on an annualized basis and a yield of 8.4%. Fomento Economico Mexicano's dividend payout ratio (DPR) is presently 76.19%.

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.

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