Fomento Economico Mexicano (NYSE:FMX) Posts Earnings Results, Misses Estimates By $1.40 EPS

Fomento Economico Mexicano (NYSE:FMX) posted its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($1.40), FiscalAI reports. Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.

Fomento Economico Mexicano Trading Up 1.1%

Shares of Fomento Economico Mexicano stock traded up $1.25 on Wednesday, hitting $113.11. 140,425 shares of the company’s stock were exchanged, compared to its average volume of 428,311. 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 has a 50-day simple moving average of $105.84 and a 200-day simple moving average of $97.94. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $116.09.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a $2.0531 dividend. The ex-dividend date was Friday, January 16th. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 annualized dividend and a yield of 7.3%. Fomento Economico Mexicano’s payout ratio is 91.94%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays increased their price objective on 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 research report on Tuesday, October 28th. Finally, The Goldman Sachs Group upped their price target on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.50.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several large investors have recently added to or reduced their stakes in FMX. AREX Capital Management LP boosted its holdings in Fomento Economico Mexicano by 93.6% in the 4th quarter. AREX Capital Management LP now owns 6,584 shares of the company’s stock worth $665,000 after buying an additional 3,184 shares during the period. PCM Encore LLC bought a new position in Fomento Economico Mexicano during the fourth quarter valued at approximately $461,000. Vise Technologies Inc. grew its holdings in shares of Fomento Economico Mexicano by 13.2% in the fourth quarter. Vise Technologies Inc. now owns 4,660 shares of the company’s stock valued at $471,000 after purchasing an additional 545 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Fomento Economico Mexicano by 6.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,891 shares of the company’s stock worth $493,000 after buying an additional 301 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Fomento Economico Mexicano in the second quarter worth about $504,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Fomento Economico Mexicano

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.