Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Short Interest Up 62.8% in December

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 1,268,478 shares, an increase of 62.8% from the November 30th total of 779,076 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 503,549 shares, the days-to-cover ratio is currently 2.5 days. Based on an average trading volume of 503,549 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

FMX has been the topic of a number of research analyst reports. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and increased their price target for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Wednesday, October 8th. Zacks Research upgraded Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price target on Fomento Economico Mexicano from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, UBS Group upgraded shares of Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $115.00 to $111.00 in a research report on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.63.

Fomento Economico Mexicano Trading Up 0.4%

Fomento Economico Mexicano stock traded up $0.39 during midday trading on Friday, hitting $103.23. 170,012 shares of the stock were exchanged, compared to its average volume of 491,947. The stock has a market capitalization of $36.94 billion, a PE ratio of 41.63, a P/E/G ratio of 5.30 and a beta of 0.47. The company has a fifty day simple moving average of $97.56 and a two-hundred day simple moving average of $95.71. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano has a 52 week low of $81.07 and a 52 week high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last posted its earnings results on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.18). Fomento Economico Mexicano had a return on equity of 5.01% and a net margin of 2.09%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $215.60 billion. Equities research analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Thursday, October 16th were paid a $1.9982 dividend. This is an increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36. The ex-dividend date was Thursday, October 16th. This represents a $7.99 dividend on an annualized basis and a yield of 7.7%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 90.32%.

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of hedge funds and other institutional investors have recently modified their holdings of FMX. Northwestern Mutual Wealth Management Co. boosted its holdings in Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. Farther Finance Advisors LLC raised its position in shares of Fomento Economico Mexicano by 41.4% in the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Fomento Economico Mexicano in the second quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its stake in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after buying an additional 131 shares during the period. Finally, Mather Group LLC. acquired a new stake in Fomento Economico Mexicano during the third quarter worth approximately $54,000. Institutional investors and hedge funds 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.