Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 3,910,000 shares, an increase of 20.7% from the July 15th total of 3,240,000 shares. Based on an average trading volume of 679,500 shares, the days-to-cover ratio is presently 5.8 days. Approximately 1.8% of the company’s stock are sold short.
Fomento Económico Mexicano Stock Up 0.1 %
Shares of NYSE:FMX opened at $113.00 on Friday. The company’s fifty day moving average is $110.46 and its two-hundred day moving average is $119.60. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.72. Fomento Económico Mexicano has a 1-year low of $99.24 and a 1-year high of $143.43. The stock has a market capitalization of $40.43 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94.
Fomento Económico Mexicano (NYSE:FMX – Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $1.87 EPS for the quarter. The company had revenue of $11.54 billion during the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. Equities analysts anticipate that Fomento Económico Mexicano will post 5.38 EPS for the current year.
Fomento Económico Mexicano Increases Dividend
Institutional Investors Weigh In On Fomento Económico Mexicano
Several large investors have recently made changes to their positions in the company. Councilmark Asset Management LLC acquired a new position in shares of Fomento Económico Mexicano during the first quarter valued at $1,155,000. Manning & Napier Advisors LLC bought a new position in Fomento Económico Mexicano in the 2nd quarter valued at about $2,994,000. Dimensional Fund Advisors LP increased its stake in Fomento Económico Mexicano by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 250,394 shares of the company’s stock valued at $32,640,000 after buying an additional 5,796 shares during the period. O Neil Global Advisors Inc. bought a new stake in shares of Fomento Económico Mexicano during the 4th quarter worth about $875,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Fomento Económico Mexicano by 7.1% in the 4th quarter. BNP Paribas Financial Markets now owns 33,387 shares of the company’s stock worth $4,352,000 after acquiring an additional 2,215 shares during the period.
Wall Street Analysts Forecast Growth
Separately, Barclays lowered their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and a consensus target price of $139.50.
About Fomento Económico Mexicano
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.
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