Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Short Interest Down 23.6% in March

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 602,100 shares, a drop of 23.6% from the February 28th total of 787,800 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 491,900 shares, the short-interest ratio is presently 1.2 days.

Fomento Económico Mexicano Stock Performance

NYSE FMX traded up $2.72 during trading on Tuesday, reaching $100.30. 393,083 shares of the company’s stock were exchanged, compared to its average volume of 627,011. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The business has a 50 day moving average price of $92.37 and a 200-day moving average price of $92.24. The stock has a market capitalization of $35.89 billion, a P/E ratio of 25.72, a PEG ratio of 5.26 and a beta of 0.87. Fomento Económico Mexicano has a fifty-two week low of $81.08 and a fifty-two week high of $130.00.

Fomento Económico Mexicano (NYSE:FMX) last posted its earnings results on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($1.05). Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. The business had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. Sell-side analysts forecast that Fomento Económico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio is presently 11.03%.

Institutional Trading of Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group lifted its position in Fomento Económico Mexicano by 82.8% during the fourth quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 154 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Fomento Económico Mexicano during the fourth quarter worth approximately $44,000. Mather Group LLC. lifted its holdings in Fomento Económico Mexicano by 179.1% during the 4th quarter. Mather Group LLC. now owns 575 shares of the company’s stock worth $49,000 after purchasing an additional 369 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Fomento Económico Mexicano in the 4th quarter valued at $51,000. Finally, Rosenberg Matthew Hamilton grew its holdings in Fomento Económico Mexicano by 30.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock valued at $65,000 after buying an additional 176 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FMX has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday, January 28th. UBS Group raised their price target on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. Finally, Barclays raised 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 note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $103.95.

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.