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 large decline in short interest in the month of March. As of March 15th, there was short interest totalling 602,100 shares, a decline of 23.6% from the February 28th total of 787,800 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 491,900 shares, the days-to-cover ratio is currently 1.2 days.

Fomento Económico Mexicano Stock Up 1.1 %

FMX opened at $100.26 on Monday. The stock’s fifty day moving average is $91.76 and its 200-day moving average is $92.31. Fomento Económico Mexicano has a one year low of $81.08 and a one year high of $131.11. The company has a market capitalization of $35.87 billion, a PE ratio of 25.71, a P/E/G ratio of 5.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. On average, equities analysts predict that Fomento Económico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were issued a dividend of $0.9201 per share. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FMX shares. Barclays raised their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lowered their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group upped their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Fomento Económico Mexicano presently has a consensus rating of “Hold” and an average price target of $103.95.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fairtree Asset Management Pty Ltd bought a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth $223,000. Asset Value Investors Ltd acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at $42,793,000. Employees Retirement System of Texas increased its stake in Fomento Económico Mexicano by 3.3% in the 4th quarter. Employees Retirement System of Texas now owns 486,584 shares of the company’s stock worth $41,598,000 after purchasing an additional 15,488 shares in the last quarter. Talaria Asset Management Pty Ltd purchased a new position in Fomento Económico Mexicano in the 4th quarter worth about $47,110,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Fomento Económico Mexicano by 6.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 213,843 shares of the company’s stock worth $18,281,000 after buying an additional 12,689 shares during the period. Institutional investors own 61.00% of the company’s stock.

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.