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) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 787,800 shares, a drop of 23.5% from the February 13th total of 1,030,000 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 508,300 shares, the short-interest ratio is currently 1.5 days.

Fomento Económico Mexicano Stock Up 0.6 %

NYSE:FMX traded up $0.59 during midday trading on Monday, reaching $99.61. The company had a trading volume of 85,702 shares, compared to its average volume of 531,578. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 5.26 and a beta of 0.87. The stock’s fifty day simple moving average is $88.73 and its 200-day simple moving average is $92.55. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $131.56. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX) last released its 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 company had revenue of $9.99 billion during the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, sell-side analysts anticipate that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were issued a dividend of $0.9201 per share. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s payout ratio is 11.03%.

Wall Street Analyst Weigh In

FMX has been the subject of several research analyst reports. UBS Group raised their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays raised their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group lowered their price target 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 given a buy rating to the company’s stock. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and a consensus price target of $103.95.

Institutional Trading of Fomento Económico Mexicano

A number of institutional investors have recently bought and sold shares of FMX. Caprock Group LLC purchased a new stake in Fomento Económico Mexicano during the 3rd quarter worth about $780,000. Banque Cantonale Vaudoise purchased a new stake in Fomento Económico Mexicano during the 3rd quarter worth about $55,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Fomento Económico Mexicano during the 3rd quarter worth about $7,672,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Fomento Económico Mexicano by 267.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,602 shares of the company’s stock worth $30,956,000 after buying an additional 228,284 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Fomento Económico Mexicano by 2.0% during the 3rd quarter. Cerity Partners LLC now owns 9,520 shares of the company’s stock worth $940,000 after buying an additional 191 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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.