Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Plans Quarterly Dividend of $1.78

Key Points

• Fomento Economico Mexicano declared a quarterly dividend of $1.7804 per share, payable October 26 to shareholders of record October 14. The annualized dividend is $7.12, representing a 6.2% yield and a 2.5% decrease from the prior payment.
• The dividend appears supported by earnings, with a 46.1% payout ratio and analysts expecting a future payout ratio of about 45%. Analysts project $5.40 in earnings per share next year versus a $2.43 annual dividend.
• FMX shares recently traded at $115.57, while analysts maintain a consensus “Hold” rating and an average price target of $135.67; ratings range from “Buy” to “Hold.”

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) announced a quarterly dividend on Thursday, October 1st. Stockholders of record on Wednesday, October 14th will be paid a dividend of $1.7804 per share on Monday, October 26th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Wednesday, October 14th. This is a 2.5% decrease from Fomento Economico Mexicano's previous quarterly dividend of $1.8270.

Fomento Economico Mexicano has raised its dividend payment by an average of 0.3%annually over the last three years. Fomento Economico Mexicano has a payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fomento Economico Mexicano to earn $5.40 per share next year, which means the company should continue to be able to cover its $2.43 annual dividend with an expected future payout ratio of 45.0%.

Fomento Economico Mexicano Trading Up 0.3%

NYSE:FMX traded up $0.38 on Friday, reaching $115.57. The company's stock had a trading volume of 503,908 shares, compared to its average volume of 460,717. The firm has a market cap of $39.94 billion, a PE ratio of 23.11, a PEG ratio of 0.63 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.14. The business's 50-day moving average price is $120.86 and its two-hundred day moving average price is $120.55. Fomento Economico Mexicano has a 1-year low of $90.87 and a 1-year high of $141.47.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.93 earnings per share for the quarter. The business had revenue of $13.20 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.24% and a net margin of 3.60%. Equities research analysts anticipate that Fomento Economico Mexicano will post 6.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FMX. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Fomento Economico Mexicano in a report on Tuesday, August 4th. Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Fomento Economico Mexicano from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 4th. UBS Group dropped their target price on Fomento Economico Mexicano from $139.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $135.67.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexico-based multinational company with operations in beverage production, retail, and logistics. Through Coca-Cola FEMSA, it produces, distributes, and markets Coca-Cola products and other beverages under a portfolio that includes soft drinks, bottled water, juices, and related products.

Coca-Cola FEMSA serves customers across several Latin American markets, including Mexico, Brazil, Colombia, Guatemala, Costa Rica, Panama, Nicaragua, Argentina, and Venezuela.

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