Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Short Interest Down 31.7% in February

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research report on Thursday, January 22nd. Barclays boosted their price target on Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group increased their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.50.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMX. EverSource Wealth Advisors LLC lifted its position in shares of Fomento Economico Mexicano by 7.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company’s stock worth $134,000 after acquiring an additional 96 shares during the period. UMB Bank n.a. lifted its position in Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the period. Tower Research Capital LLC TRC boosted its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Arax Advisory Partners increased its holdings in Fomento Economico Mexicano by 20.1% in the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after buying an additional 136 shares during the period. Finally, Signaturefd LLC increased its holdings in Fomento Economico Mexicano by 5.1% in the 4th quarter. Signaturefd LLC now owns 2,986 shares of the company’s stock valued at $302,000 after buying an additional 144 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Trading Down 0.7%

FMX traded down $0.78 during midday trading on Friday, reaching $112.39. The company’s stock had a trading volume of 412,848 shares, compared to its average volume of 411,726. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.90 and a current ratio of 1.10. The company has a fifty day simple moving average of $106.55 and a 200 day simple moving average of $98.41. Fomento Economico Mexicano has a twelve month low of $83.08 and a twelve month high of $116.09.

Fomento Economico Mexicano (NYSE:FMX) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). The company had revenue of $12.21 billion during the quarter, compared to analyst estimates of $11.98 billion. Fomento Economico Mexicano had a return on equity of 6.37% and a net margin of 2.29%. As a group, analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 16th were paid 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 dividend yield of 7.3%. Fomento Economico Mexicano’s dividend payout ratio is 80.00%.

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.