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 large decline in short interest in February. As of February 28th, there was short interest totalling 787,800 shares, a decline 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 presently 1.5 days. Approximately 0.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FMX. UBS Group upped their target price 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. The Goldman Sachs Group decreased their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Barclays upped their target price on shares of 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $103.95.

Hedge Funds Weigh In On Fomento Económico Mexicano

A number of hedge funds have recently added to or reduced their stakes in the stock. Asset Value Investors Ltd bought a new position in Fomento Económico Mexicano in the 4th quarter worth about $42,793,000. Employees Retirement System of Texas grew its stake in Fomento Económico Mexicano by 3.3% in the 4th 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 in the last quarter. Talaria Asset Management Pty Ltd bought a new position in Fomento Económico Mexicano in the 4th quarter worth about $47,110,000. Public Employees Retirement System of Ohio grew its stake in 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 worth $18,281,000 after acquiring an additional 12,689 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in Fomento Económico Mexicano in the 4th quarter worth about $301,000. 61.00% of the stock is currently owned by institutional investors.

Fomento Económico Mexicano Trading Down 1.4 %

NYSE:FMX traded down $1.36 during mid-day trading on Tuesday, hitting $99.23. 510,573 shares of the stock traded hands, compared to its average volume of 619,861. The stock has a market capitalization of $35.50 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano has a 52 week low of $81.08 and a 52 week high of $131.56. The firm’s 50 day moving average is $89.36 and its two-hundred day moving average is $92.50. 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 (NYSE:FMX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). The firm had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. On average, equities research analysts predict that Fomento Económico Mexicano will post 5.32 earnings per share for the current year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. 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 dividend payout ratio is currently 11.03%.

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.