Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) to Issue Quarterly Dividend of $1.78

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Thursday, October 1st. Investors of record on Wednesday, October 14th will be given a dividend of $1.7804 per share on Monday, October 26th. This represents a $7.12 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Wednesday, October 14th. This is a 2.5% decrease from Fomento Economico Mexicano’s previous quarterly dividend of $1.8270.

Fomento Economico Mexicano has raised its dividend payment by an average of 0.3%per year over the last three years. Fomento Economico Mexicano has a dividend payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fomento Economico Mexicano to earn $5.40 per share next year, which means the company should continue to be able to cover its $2.43 annual dividend with an expected future payout ratio of 45.0%.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock traded up $0.38 during trading hours on Friday, reaching $115.57. 503,908 shares of the stock were exchanged, compared to its average volume of 460,717. The company has a market cap of $39.94 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Fomento Economico Mexicano has a twelve month low of $90.87 and a twelve month high of $141.47. The stock has a 50 day moving average of $120.86 and a two-hundred day moving average of $120.55.

Fomento Economico Mexicano (NYSE:FMX) last issued its earnings results on Tuesday, June 30th. The company reported $0.93 EPS for the quarter. Fomento Economico Mexicano had a net margin of 3.60% and a return on equity of 7.24%. The company had revenue of $13.20 billion during the quarter. Equities analysts expect that Fomento Economico Mexicano will post 6.35 EPS for the current fiscal year.

Analyst Ratings Changes

FMX has been the topic of a number of recent analyst reports. Bank of America raised shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $150.00 in a research note on Tuesday, August 4th. UBS Group reduced their target price on Fomento Economico Mexicano from $139.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday. Zacks Research lowered Fomento Economico Mexicano from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 price objective on Fomento Economico Mexicano in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $135.67.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.