Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Plans Quarterly Dividend of $1.83

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Thursday, July 2nd. Shareholders of record on Wednesday, July 15th will be paid a dividend of 1.827 per share on Monday, July 27th. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, July 15th. This is a 174.4% increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67.

Fomento Economico Mexicano has increased its dividend by an average of 0.3%per year over the last three years. Fomento Economico Mexicano has a dividend payout ratio of 45.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Fomento Economico Mexicano to earn $5.41 per share next year, which means the company should continue to be able to cover its $2.39 annual dividend with an expected future payout ratio of 44.2%.

Fomento Economico Mexicano Price Performance

Shares of Fomento Economico Mexicano stock traded down $0.07 on Friday, reaching $129.24. The company’s stock had a trading volume of 733,395 shares, compared to its average volume of 538,923. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $44.66 billion, a P/E ratio of 28.91, a PEG ratio of 0.69 and a beta of 0.41. The stock has a 50-day moving average price of $122.43 and a 200-day moving average price of $113.12. Fomento Economico Mexicano has a 52-week low of $83.08 and a 52-week high of $131.81.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The firm had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. Analysts expect that Fomento Economico Mexicano will post 6.19 EPS for the current year.

Analysts Set New Price Targets

FMX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. UBS Group upped their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Fomento Economico Mexicano currently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.