Fomento Economico Mexicano (NYSE:FMX) Sees Large Volume Increase - What's Next?

Key Points

• Fomento Economico Mexicano experienced a significant decline in trading volume, with about 476,467 shares traded, down 24% from the previous session.
• The company reported $0.42 EPS for the last quarter, missing the consensus estimate of $0.91, and its revenue stood at $11.27 billion, significantly below analysts' expectations.
• Fomento Economico Mexicano recently increased its dividend to $1.3625 per share, representing a substantial yield of 200.0% and raising its payout ratio to 74.83%.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 476,467 shares were traded during mid-day trading, a decline of 24% from the previous session's volume of 624,449 shares.The stock last traded at $85.37 and had previously closed at $84.55.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FMX. UBS Group boosted their price objective on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Barclays reduced their price objective on Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Finally, Morgan Stanley restated an "equal weight" rating and issued a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $105.16.

Fomento Economico Mexicano Trading Down 0.9%

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.06. The business's 50 day simple moving average is $97.09 and its 200 day simple moving average is $98.30. The stock has a market cap of $30.24 billion, a P/E ratio of 28.74, a PEG ratio of 4.02 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. On average, analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a -- dividend, which was paid on Monday, July 28th. Shareholders of record on Thursday, July 17th were paid a $1.3625 dividend. This is a boost from Fomento Economico Mexicano's previous -- dividend of $0.73. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Thursday, July 17th. Fomento Economico Mexicano's payout ratio is presently 74.83%.

Hedge Funds Weigh In On Fomento Economico Mexicano

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Fomento Economico Mexicano in the 1st quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fomento Economico Mexicano by 2,006.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock worth $35,000 after purchasing an additional 321 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock worth $38,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Fomento Economico Mexicano during the second quarter worth $40,000. Finally, Banque Transatlantique SA bought a new position in shares of Fomento Economico Mexicano during the 4th quarter valued at about $44,000. Institutional investors own 61.00% of the company's stock.

About Fomento Economico 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.