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Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Plans Dividend Increase - $1.36 Per Share

Fomento Economico Mexicano logo with Consumer Staples background

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) announced a -- dividend on Wednesday, July 9th, Wall Street Journal reports. Investors of record on Thursday, July 17th will be paid a dividend of 1.3625 per share on Monday, July 28th. This represents a yield of 2%. The ex-dividend date is Thursday, July 17th. This is a 85.8% increase from Fomento Economico Mexicano's previous -- dividend of $0.73.

Fomento Economico Mexicano has a payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fomento Economico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 10.9%.

Fomento Economico Mexicano Stock Performance

Fomento Economico Mexicano stock traded down $0.70 during midday trading on Friday, reaching $100.80. The stock had a trading volume of 530,844 shares, compared to its average volume of 595,614. Fomento Economico Mexicano has a 12 month low of $81.08 and a 12 month high of $119.18. The firm's 50-day moving average price is $104.13 and its 200 day moving average price is $96.87. The firm has a market capitalization of $36.06 billion, a PE ratio of 22.55, a P/E/G ratio of 3.17 and a beta of 0.65. The company has a quick ratio of 1.31, a current ratio of 1.64 and a debt-to-equity ratio of 0.34.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). Fomento Economico Mexicano had a net margin of 3.98% and a return on equity of 7.86%. The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $194.75 billion. As a group, research analysts predict that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Institutional Trading of Fomento Economico Mexicano

An institutional investor recently raised its position in Fomento Economico Mexicano stock. AQR Capital Management LLC lifted its holdings in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,072 shares of the company's stock after acquiring an additional 969 shares during the quarter. AQR Capital Management LLC's holdings in Fomento Economico Mexicano were worth $593,000 as of its most recent filing with the Securities & Exchange Commission. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FMX has been the topic of a number of research reports. Barclays boosted their price objective on Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Itau BBA Securities upgraded Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research report on Monday, April 7th. Finally, UBS Group upped their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $107.45.

Read Our Latest Stock Report on FMX

Fomento Economico Mexicano Company Profile

(Get Free Report)

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.

See Also

Dividend History for Fomento Economico Mexicano (NYSE:FMX)

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