Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Sees Significant Decrease in Short Interest

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 602,100 shares, a decrease of 23.6% from the February 28th total of 787,800 shares. Based on an average daily volume of 491,900 shares, the short-interest ratio is presently 1.2 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Ratings Changes

FMX has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Barclays lifted their price objective 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. Finally, The Goldman Sachs Group reduced their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $103.95.

Fomento Económico Mexicano Trading Up 2.8 %

Shares of Fomento Económico Mexicano stock traded up $2.72 during midday trading on Tuesday, reaching $100.30. The company had a trading volume of 393,083 shares, compared to its average volume of 627,011. The firm has a market cap of $35.89 billion, a PE ratio of 25.72, a P/E/G ratio of 5.26 and a beta of 0.87. The stock has a fifty day moving average price of $92.37 and a 200 day moving average price of $92.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. Fomento Económico Mexicano has a fifty-two week low of $81.08 and a fifty-two week high of $130.00.

Fomento Económico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. On average, equities analysts anticipate that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 11.03%.

Institutional Investors Weigh In On Fomento Económico Mexicano

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in Fomento Económico Mexicano by 540.3% in the fourth quarter. FMR LLC now owns 3,147,544 shares of the company’s stock valued at $269,084,000 after buying an additional 2,655,962 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Fomento Económico Mexicano by 20.5% in the 4th quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company’s stock valued at $1,081,939,000 after acquiring an additional 2,150,913 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Fomento Económico Mexicano by 20.4% during the 4th quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company’s stock valued at $360,716,000 after acquiring an additional 717,666 shares during the period. Talaria Asset Management Pty Ltd bought a new position in Fomento Económico Mexicano during the fourth quarter worth $47,110,000. Finally, Asset Value Investors Ltd acquired a new stake in Fomento Económico Mexicano in the fourth quarter worth $42,793,000. 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.