Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Short Interest Update

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 603,968 shares, a decline of 31.7% from the January 29th total of 884,802 shares. Based on an average trading volume of 468,120 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.2% of the company’s shares are short sold. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 468,120 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FMX shares. The Goldman Sachs Group lifted their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Barclays upped their price target on Fomento Economico Mexicano from $116.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and an average target price of $108.83.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock traded down $2.83 during trading hours on Tuesday, reaching $109.50. 525,699 shares of the company’s stock were exchanged, compared to its average volume of 410,787. The firm’s 50 day simple moving average is $106.92 and its 200 day simple moving average is $98.87. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $116.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35.

Fomento Economico Mexicano (NYSE:FMX) last announced its earnings results on Wednesday, February 25th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.58). The business had revenue of $12.21 billion for the quarter, compared to the consensus estimate of $11.98 billion. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. As a group, sell-side analysts predict that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 16th were given a dividend of $2.0531 per share. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, January 16th. This represents a $8.21 annualized dividend and a dividend yield of 7.5%. Fomento Economico Mexicano’s payout ratio is 80.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Value Partners Investments Inc. increased its position in Fomento Economico Mexicano by 43.3% in the 3rd quarter. Value Partners Investments Inc. now owns 137,109 shares of the company’s stock valued at $13,516,000 after buying an additional 41,400 shares in the last quarter. Strs Ohio grew its stake in Fomento Economico Mexicano by 8.5% in the third quarter. Strs Ohio now owns 319,300 shares of the company’s stock valued at $31,493,000 after acquiring an additional 25,000 shares during the period. LBP AM SA increased its holdings in shares of Fomento Economico Mexicano by 22.1% during the third quarter. LBP AM SA now owns 518,532 shares of the company’s stock valued at $51,143,000 after acquiring an additional 93,997 shares in the last quarter. ABS Direct Equity Fund LLC raised its position in shares of Fomento Economico Mexicano by 37.6% during the third quarter. ABS Direct Equity Fund LLC now owns 90,250 shares of the company’s stock worth $8,901,000 after purchasing an additional 24,650 shares during the period. Finally, Barings LLC raised its position in shares of Fomento Economico Mexicano by 31.7% during the second quarter. Barings LLC now owns 72,617 shares of the company’s stock worth $7,478,000 after purchasing an additional 17,488 shares during the period. 61.00% of the stock is owned by institutional investors.

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.