Short Interest in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Decreases By 22.8%

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) saw a large decline in short interest in January. As of January 30th, there was short interest totaling 884,802 shares, a decline of 22.8% from the January 15th total of 1,146,274 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 454,333 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 454,333 shares, the short-interest ratio is currently 1.9 days. Approximately 0.2% of the shares of the stock are sold short.

Fomento Economico Mexicano Stock Up 1.5%

FMX stock traded up $1.69 during trading on Friday, hitting $114.55. The stock had a trading volume of 368,180 shares, compared to its average volume of 442,817. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average price is $104.43 and its two-hundred day moving average price is $96.69. Fomento Economico Mexicano has a 1-year low of $83.08 and a 1-year high of $115.90.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid a dividend of $2.0531 per share. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a dividend yield of 7.2%. Fomento Economico Mexicano’s payout ratio is currently 91.94%.

Analyst Ratings Changes

A number of brokerages have issued reports on FMX. Barclays increased their target price on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Zacks Research raised Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. The Goldman Sachs Group upped their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Fomento Economico Mexicano presently has a consensus rating of “Hold” and a consensus price target of $108.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FMX. EverSource Wealth Advisors LLC grew its position in shares of Fomento Economico Mexicano by 7.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock valued at $134,000 after purchasing an additional 96 shares during the period. UMB Bank n.a. grew its holdings in Fomento Economico Mexicano by 15.1% in the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after buying an additional 96 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after acquiring an additional 131 shares during the last quarter. Signaturefd LLC increased its stake in shares of Fomento Economico Mexicano by 5.1% during the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after acquiring an additional 144 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich lifted its holdings in shares of Fomento Economico Mexicano by 2.9% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 5,467 shares of the company’s stock worth $552,000 after acquiring an additional 153 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.