Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Sees Significant Decrease in Short Interest

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 884,802 shares, a drop of 22.8% from the January 15th total of 1,146,274 shares. Based on an average daily volume of 454,333 shares, the short-interest ratio is presently 1.9 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 454,333 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

FMX has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Fomento Economico Mexicano from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. The Goldman Sachs Group upped their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, Barclays boosted their price objective on Fomento Economico Mexicano from $105.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $108.50.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Fomento Economico Mexicano in the second quarter worth about $40,000. Tower Research Capital LLC TRC lifted 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 purchasing an additional 131 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Fomento Economico Mexicano during the fourth quarter valued at approximately $50,000. Finally, Mather Group LLC. acquired a new stake in Fomento Economico Mexicano during the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Economico Mexicano Trading Up 1.5%

FMX traded up $1.69 on Monday, hitting $114.55. 368,180 shares of the stock traded hands, compared to its average volume of 445,062. The business has a fifty day moving average price of $104.70 and a two-hundred day moving average price of $96.91. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.50. Fomento Economico Mexicano has a 52 week low of $83.08 and a 52 week high of $115.90.

Fomento Economico Mexicano Increases Dividend

The company 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 positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.2%. Fomento Economico Mexicano’s dividend payout ratio is currently 91.94%.

Fomento Economico Mexicano Company Profile

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.