Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Short Interest Update

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,140,000 shares, a drop of 5.3% from the October 31st total of 2,260,000 shares. Based on an average daily volume of 674,600 shares, the days-to-cover ratio is presently 3.2 days. Currently, 1.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Fomento Económico Mexicano

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Fomento Económico Mexicano by 8.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company’s stock worth $167,000 after acquiring an additional 105 shares during the period. CWM LLC increased its position in Fomento Económico Mexicano by 28.7% during the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock worth $103,000 after purchasing an additional 213 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Fomento Económico Mexicano during the 2nd quarter worth approximately $163,000. Csenge Advisory Group boosted its stake in shares of Fomento Económico Mexicano by 22.0% in the second quarter. Csenge Advisory Group now owns 5,780 shares of the company’s stock valued at $622,000 after buying an additional 1,042 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Fomento Económico Mexicano during the second quarter worth $2,994,000.

Fomento Económico Mexicano Trading Down 2.1 %

Shares of FMX stock opened at $87.52 on Tuesday. The company has a market capitalization of $31.31 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 5.24 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $95.53 and its two-hundred day moving average is $104.65. Fomento Económico Mexicano has a twelve month low of $85.30 and a twelve month high of $143.43.

Fomento Económico Mexicano Cuts Dividend

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

Analyst Ratings Changes

FMX has been the subject of several research reports. Barclays reduced their target price on Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $128.25.

Fomento Económico 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.