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

Key Points

• Fomento Economico Mexicano experienced a significant increase in short interest, rising 79.5% to 1,080,000 shares as of August 31st, representing approximately 0.5% of the company's shares sold short.
• Analyst ratings vary, with UBS Group increasing the price target to $115 and a "neutral" rating, while Zacks Research downgraded the stock to "strong sell", reflecting differing outlooks among analysts.
• The company recently announced a quarterly dividend of $1.3625, an increase from its previous dividend of $0.73, which provides a 5.9% annualized yield for investors.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 1,080,000 shares, a growth of 79.5% from the August 15th total of 601,700 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 831,900 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 831,900 shares, the short-interest ratio is currently 1.3 days. Approximately 0.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

FMX has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Zacks Research downgraded shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. Morgan Stanley restated an "equal weight" rating and set a $97.00 target price (down from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. Barclays cut their target price on shares of 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, Citigroup upgraded shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $103.80.

Hedge Funds Weigh In On Fomento Economico Mexicano

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Fomento Economico Mexicano during the first quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. grew its position in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company's stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Farther Finance Advisors LLC grew its position in Fomento Economico Mexicano by 41.4% during the second quarter. Farther Finance Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after acquiring an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Fomento Economico Mexicano in the second quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock worth $45,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Stock Performance

Shares of FMX traded up $1.90 during midday trading on Friday, reaching $92.28. The stock had a trading volume of 1,176,838 shares, compared to its average volume of 934,426. The firm has a 50 day simple moving average of $91.28 and a 200-day simple moving average of $98.13. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a market cap of $33.02 billion, a PE ratio of 31.39, a P/E/G ratio of 5.41 and a beta of 0.70. Fomento Economico Mexicano has a one year low of $81.07 and a one year high of $108.74.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. As a group, sell-side analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were paid a $1.3625 dividend. This represents a $5.45 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 74.83%.

Fomento Economico Mexicano Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.