Short Interest in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Increases By 20.7%

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) 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) 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

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 17th were given a $1.0206 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This is an increase from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a yield of 1.5%. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 14.36%.

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.