Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX – Get Free Report) declared a quarterly dividend on Thursday, July 2nd. Investors of record on Wednesday, July 15th will be given a dividend of 1.827 per share on Monday, July 27th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, July 15th. This is a 174.4% increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67.
Fomento Economico Mexicano has increased its dividend payment by an average of 0.3%annually over the last three years. Fomento Economico Mexicano has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fomento Economico Mexicano to earn $5.41 per share next year, which means the company should continue to be able to cover its $2.39 annual dividend with an expected future payout ratio of 44.2%.
Fomento Economico Mexicano Price Performance
NYSE FMX traded down $0.07 during trading hours on Friday, reaching $129.24. The company’s stock had a trading volume of 733,395 shares, compared to its average volume of 538,923. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $131.81. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $44.66 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 0.69 and a beta of 0.41. The firm’s 50-day moving average price is $122.43 and its 200-day moving average price is $113.12.
Hedge Funds Weigh In On Fomento Economico Mexicano
Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Fomento Economico Mexicano by 3.2% during the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after acquiring an additional 193,432 shares in the last quarter. Nuveen LLC grew its stake in shares of Fomento Economico Mexicano by 2.4% during the 4th quarter. Nuveen LLC now owns 3,850,882 shares of the company’s stock worth $389,209,000 after purchasing an additional 88,721 shares during the period. Invesco Ltd. grew its stake in shares of Fomento Economico Mexicano by 18.9% during the 4th quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock worth $125,814,000 after purchasing an additional 197,914 shares during the period. Bank of America Corp DE increased its holdings in shares of Fomento Economico Mexicano by 21.2% during the 3rd quarter. Bank of America Corp DE now owns 758,186 shares of the company’s stock valued at $74,780,000 after purchasing an additional 132,440 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock worth $73,171,000 after buying an additional 709,957 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.
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.
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