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

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 787,800 shares, a decrease of 23.5% from the February 13th total of 1,030,000 shares. Based on an average daily volume of 508,300 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.4% of the shares of the stock are short sold.

Fomento Económico Mexicano Trading Down 1.4 %

Shares of FMX stock traded down $1.33 during mid-day trading on Friday, hitting $97.29. 511,932 shares of the company's stock were exchanged, compared to its average volume of 617,186. The stock has a market cap of $34.81 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 5.26 and a beta of 0.87. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano has a fifty-two week low of $81.08 and a fifty-two week high of $131.56. The stock has a 50-day simple moving average of $89.96 and a two-hundred day simple moving average of $92.60.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) 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). The business had revenue of $9.99 billion during the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. Equities analysts expect that Fomento Económico Mexicano will post 5.32 EPS for the current fiscal year.

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Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano's dividend payout ratio is 11.03%.

Wall Street Analyst Weigh In

FMX has been the subject of several research reports. UBS Group lifted their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, March 14th. Barclays upped their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group dropped their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of "Hold" and an average price target of $103.95.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of large investors have recently bought and sold shares of FMX. Fairtree Asset Management Pty Ltd acquired a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth $223,000. Asset Value Investors Ltd acquired a new stake in Fomento Económico Mexicano during the fourth quarter worth about $42,793,000. Employees Retirement System of Texas increased its stake in Fomento Económico Mexicano by 3.3% during the fourth quarter. Employees Retirement System of Texas now owns 486,584 shares of the company's stock worth $41,598,000 after acquiring an additional 15,488 shares during the last quarter. Talaria Asset Management Pty Ltd purchased a new position in shares of Fomento Económico Mexicano in the 4th quarter worth about $47,110,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Fomento Económico Mexicano by 6.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 213,843 shares of the company's stock valued at $18,281,000 after purchasing an additional 12,689 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

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.