Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Raises Dividend to $1.63 Per Share

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Get Free Report) declared a dividend on Thursday, April 17th, investing.com reports. Stockholders of record on Friday, April 25th will be paid a dividend of 1.628 per share on Monday, May 5th. This represents a dividend yield of 1.57%. The ex-dividend date is Thursday, April 24th. This is a 76.9% increase from Fomento Económico Mexicano's previous dividend of $0.92.

Fomento Económico Mexicano has increased its dividend by an average of 76.5% per year over the last three years. Fomento Económico Mexicano has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fomento Económico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 16.9%.

Fomento Económico Mexicano Price Performance

Shares of Fomento Económico Mexicano stock traded up $1.97 during trading hours on Tuesday, reaching $106.47. The company's stock had a trading volume of 401,146 shares, compared to its average volume of 628,768. Fomento Económico Mexicano has a one year low of $81.08 and a one year high of $123.09. The stock has a market cap of $38.09 billion, a P/E ratio of 27.24, a P/E/G ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The firm has a 50 day moving average price of $96.54 and a 200-day moving average price of $92.16.

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

Analysts Set New Price Targets

A number of research firms have issued reports on FMX. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Barclays boosted their price target 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. The Goldman Sachs Group reduced their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group increased their price target on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $103.95.

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.