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

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,070,000 shares, a growth of 41.6% from the January 15th total of 755,700 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 515,200 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on FMX shares. The Goldman Sachs Group decreased their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays cut Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $108.27.

Hedge Funds Weigh In On Fomento Económico Mexicano

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp raised its position in shares of Fomento Económico Mexicano by 11.1% in the 4th quarter. Stifel Financial Corp now owns 13,864 shares of the company’s stock valued at $1,185,000 after purchasing an additional 1,385 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Fomento Económico Mexicano in the 4th quarter valued at approximately $72,000. NewEdge Advisors LLC raised its position in shares of Fomento Económico Mexicano by 9.7% in the 4th quarter. NewEdge Advisors LLC now owns 4,328 shares of the company’s stock valued at $370,000 after purchasing an additional 382 shares in the last quarter. Mariner LLC raised its position in shares of Fomento Económico Mexicano by 3.1% in the 4th quarter. Mariner LLC now owns 22,335 shares of the company’s stock valued at $1,909,000 after purchasing an additional 674 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Fomento Económico Mexicano by 28.2% in the 4th quarter. Barclays PLC now owns 92,483 shares of the company’s stock valued at $7,907,000 after purchasing an additional 20,324 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $90.40 on Friday. The stock’s 50 day moving average price is $86.07 and its 200 day moving average price is $95.08. The firm has a market capitalization of $32.34 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 5.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano has a one year low of $81.07 and a one year high of $143.43.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is 11.79%.

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.